United Fire Group, Inc. (NASDAQ:UFCS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in shares of United Fire Group, Inc. (NASDAQ:UFCSFree Report) by 10.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,644 shares of the insurance provider’s stock after selling 672 shares during the quarter. Russell Investments Group Ltd.’s holdings in United Fire Group were worth $114,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of UFCS. Envestnet Asset Management Inc. lifted its holdings in shares of United Fire Group by 111.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 178,041 shares of the insurance provider’s stock valued at $3,516,000 after buying an additional 93,810 shares during the period. Louisiana State Employees Retirement System purchased a new stake in United Fire Group in the 4th quarter worth approximately $213,000. Assenagon Asset Management S.A. grew its stake in shares of United Fire Group by 134.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 143,123 shares of the insurance provider’s stock worth $2,827,000 after purchasing an additional 82,037 shares during the period. Barclays PLC increased its holdings in shares of United Fire Group by 8.3% during the 3rd quarter. Barclays PLC now owns 14,478 shares of the insurance provider’s stock valued at $287,000 after purchasing an additional 1,112 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of United Fire Group by 4.5% in the 3rd quarter. Invesco Ltd. now owns 373,607 shares of the insurance provider’s stock valued at $7,379,000 after purchasing an additional 16,134 shares during the period. 62.68% of the stock is owned by hedge funds and other institutional investors.

United Fire Group Price Performance

Shares of UFCS stock opened at $22.61 on Friday. The stock has a 50 day simple moving average of $22.34 and a 200-day simple moving average of $21.80. United Fire Group, Inc. has a 1-year low of $18.41 and a 1-year high of $25.55. The company has a market cap of $572.03 million, a price-to-earnings ratio of -32.77 and a beta of 0.34.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, May 31st. United Fire Group’s payout ratio is -92.75%.

Analysts Set New Price Targets

Several analysts recently commented on UFCS shares. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 16th. Piper Sandler restated an “underweight” rating and set a $21.00 target price on shares of United Fire Group in a research report on Monday, April 1st.

Get Our Latest Analysis on UFCS

Insider Buying and Selling at United Fire Group

In related news, VP Micah G. Woolstenhulme bought 1,500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average price of $21.76 per share, with a total value of $32,640.00. Following the completion of the purchase, the vice president now directly owns 32,763 shares of the company’s stock, valued at $712,922.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Micah G. Woolstenhulme purchased 1,500 shares of the stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average cost of $21.76 per share, with a total value of $32,640.00. Following the completion of the purchase, the vice president now directly owns 32,763 shares of the company’s stock, valued at approximately $712,922.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.15, for a total value of $55,375.00. Following the completion of the transaction, the director now directly owns 454,363 shares of the company’s stock, valued at $10,064,140.45. The disclosure for this sale can be found here. Insiders own 5.99% of the company’s stock.

United Fire Group Profile

(Free Report)

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 reinsurance coverage for property and casualty insurance. Its commercial lines include fire and allied lines, other liability, automobile, workers' compensation, fidelity and surety coverage, and other insurance products; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners, as well as provides assumed reinsurance products.

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

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