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George D. Milligan Acquires 5,000 Shares of United Fire Group, Inc. (NASDAQ:UFCS) Stock

Defense World · Sep 11, 2022 05:31

United Fire Group, Inc. (NASDAQ:UFCS – Get Rating) Director George D. Milligan purchased 5,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was purchased at an average cost of $28.74 per share, for a total transaction of $143,700.00. Following the completion of the acquisition, the director now owns 55,830 shares of the company's stock, valued at approximately $1,604,554.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

United Fire Group Stock Performance

NASDAQ:UFCS opened at $29.95 on Friday. The firm has a market cap of $752.64 million, a PE ratio of 11.52 and a beta of 0.04. United Fire Group, Inc. has a fifty-two week low of $19.85 and a fifty-two week high of $37.26. The business has a 50 day moving average price of $31.20 and a 200-day moving average price of $30.76.

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United Fire Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 16th. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 1st. United Fire Group's dividend payout ratio (DPR) is presently 24.62%.

Institutional Trading of United Fire Group

A number of institutional investors have recently made changes to their positions in the stock. Martingale Asset Management L P boosted its stake in shares of United Fire Group by 1.6% during the first quarter. Martingale Asset Management L P now owns 25,777 shares of the insurance provider's stock valued at $802,000 after purchasing an additional 400 shares during the period. Mutual of America Capital Management LLC lifted its stake in United Fire Group by 16.6% in the second quarter. Mutual of America Capital Management LLC now owns 3,629 shares of the insurance provider's stock worth $124,000 after acquiring an additional 516 shares during the period. Advisor Group Holdings Inc. lifted its stake in United Fire Group by 9.2% in the first quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider's stock worth $225,000 after acquiring an additional 608 shares during the period. Captrust Financial Advisors lifted its stake in United Fire Group by 72.0% in the first quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider's stock worth $46,000 after acquiring an additional 623 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in United Fire Group in the second quarter worth $31,000. Hedge funds and other institutional investors own 65.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on UFCS shares. StockNews.com cut shares of United Fire Group from a "buy" rating to a "hold" rating in a research report on Friday, August 5th. Piper Sandler upgraded 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 report on Friday, August 5th. They noted that the move was a valuation call.

United Fire Group Company Profile

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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.