Ameriprise Financial Inc. cut its holdings in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,366 shares of the insurance provider’s stock after selling 1,216 shares during the period. Ameriprise Financial Inc. owned about 1.09% of United Fire Group worth $12,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of UFCS. Teachers Advisors LLC lifted its position in United Fire Group by 1.5% during the first quarter. Teachers Advisors LLC now owns 36,485 shares of the insurance provider’s stock valued at $1,560,000 after purchasing an additional 531 shares during the period. Aperio Group LLC lifted its position in United Fire Group by 11.1% during the second quarter. Aperio Group LLC now owns 11,104 shares of the insurance provider’s stock valued at $489,000 after purchasing an additional 1,109 shares during the period. Russell Investments Group Ltd. lifted its position in United Fire Group by 3.2% during the second quarter. Russell Investments Group Ltd. now owns 16,665 shares of the insurance provider’s stock valued at $734,000 after purchasing an additional 520 shares during the period. Great West Life Assurance Co. Can lifted its position in United Fire Group by 4.0% during the second quarter. Great West Life Assurance Co. Can now owns 30,929 shares of the insurance provider’s stock valued at $1,361,000 after purchasing an additional 1,200 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in United Fire Group by 0.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 94,992 shares of the insurance provider’s stock valued at $4,186,000 after purchasing an additional 807 shares during the period. Institutional investors own 58.37% of the company’s stock.

A number of research analysts recently issued reports on the stock. BidaskClub downgraded shares of United Fire Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. Sandler O’Neill upgraded shares of United Fire Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $46.00 to $47.00 in a research report on Friday, September 22nd.

In other United Fire Group news, COO Michael J. Sheeley sold 3,850 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $48.04, for a total value of $184,954.00. Following the completion of the transaction, the chief operating officer now owns 9,529 shares in the company, valued at $457,773.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael T. Wilkins sold 3,771 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $47.24, for a total transaction of $178,142.04. Following the completion of the transaction, the insider now owns 37,704 shares of the company’s stock, valued at approximately $1,781,136.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,481 shares of company stock valued at $548,710. Insiders own 5.83% of the company’s stock.

United Fire Group, Inc. (NASDAQ:UFCS) opened at $47.60 on Monday. The stock has a market cap of $1,184.19, a price-to-earnings ratio of 105.78 and a beta of 0.70. United Fire Group, Inc. has a 1 year low of $38.97 and a 1 year high of $50.75.

United Fire Group (NASDAQ:UFCS) last posted its earnings results on Wednesday, November 8th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.87). The business had revenue of $269.55 million for the quarter. United Fire Group had a net margin of 1.49% and a return on equity of 1.32%.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were given a $0.28 dividend. The ex-dividend date was Thursday, November 30th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.35%. United Fire Group’s dividend payout ratio (DPR) is currently 177.78%.

United Fire Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 8th that permits the company to repurchase 2,240,000 shares. This repurchase authorization permits the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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About United Fire Group

United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.

Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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