Mercer Global Advisors Inc. ADV decreased its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,843 shares of the insurance provider's stock after selling 700 shares during the period. Mercer Global Advisors Inc. ADV's holdings in United Fire Group were worth $275,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its stake in United Fire Group by 9.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider's stock valued at $225,000 after buying an additional 608 shares during the period. Maryland State Retirement & Pension System acquired a new position in shares of United Fire Group in the 1st quarter worth approximately $269,000. Point72 Asset Management L.P. acquired a new position in shares of United Fire Group in the 4th quarter worth approximately $306,000. Advisor Partners LLC grew its stake in shares of United Fire Group by 18.6% in the 1st quarter. Advisor Partners LLC now owns 10,289 shares of the insurance provider's stock worth $320,000 after purchasing an additional 1,611 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its stake in shares of United Fire Group by 10.5% in the 1st quarter. IndexIQ Advisors LLC now owns 13,407 shares of the insurance provider's stock worth $417,000 after purchasing an additional 1,272 shares during the last quarter. Institutional investors and hedge funds own 65.32% of the company's stock.
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United Fire Group Price Performance
United Fire Group stock opened at $29.27 on Friday. The firm's 50 day simple moving average is $31.86 and its 200-day simple moving average is $30.67. The company has a market cap of $735.47 million, a P/E ratio of 11.23 and a beta of 0.01. United Fire Group, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $37.26.
United Fire Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Thursday, September 1st. United Fire Group's dividend payout ratio (DPR) is currently 24.62%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on UFCS. TheStreet cut shares of United Fire Group from a "b-" rating to a "c" rating in a research note on Thursday, May 5th. Piper Sandler raised shares of United Fire Group from a "neutral" rating to an "overweight" rating and set a $37.00 price objective on the stock in a research note on Friday, August 5th. They noted that the move was a valuation call. Finally, StockNews.com cut shares of United Fire Group from a "buy" rating to a "hold" rating in a research note on Friday, August 5th.
Insider Transactions at United Fire Group
In other news, VP Micah G. Woolstenhulme bought 1,000 shares of the company's stock in a transaction dated Wednesday, August 10th. The shares were acquired at an average cost of $29.10 per share, with a total value of $29,100.00. Following the completion of the transaction, the vice president now directly owns 25,753 shares in the company, valued at approximately $749,412.30. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.71% of the stock is currently owned by insiders.
About United Fire Group
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United Fire Group, Inc, together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States. The company offers commercial and personal lines of property and casualty insurance; and commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.
Further Reading
- Get a free copy of the StockNews.com research report on United Fire Group (UFCS)
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