Corebridge Financial Inc. Has $318,000 Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

Corebridge Financial Inc. reduced its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,180 shares of the insurance provider’s stock after selling 873 shares during the quarter. Corebridge Financial Inc.’s holdings in United Fire Group were worth $318,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of United Fire Group in the 4th quarter worth approximately $27,000. Point72 Asset Management L.P. raised its stake in United Fire Group by 576.4% during the third quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock worth $113,000 after buying an additional 4,611 shares during the last quarter. Globeflex Capital L P acquired a new position in United Fire Group in the fourth quarter valued at $119,000. KLP Kapitalforvaltning AS bought a new stake in United Fire Group during the fourth quarter valued at $131,000. Finally, Maryland State Retirement & Pension System acquired a new stake in United Fire Group during the 4th quarter worth about $203,000. 62.68% of the stock is currently owned by institutional investors.

Insider Activity at United Fire Group

In related news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total value of $68,275.00. Following the sale, the insider now owns 446,863 shares in the company, valued at $12,203,828.53. This represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Noyce purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $26.97 per share, for a total transaction of $53,940.00. Following the transaction, the director now owns 27,316 shares in the company, valued at $736,712.52. This represents a 7.90 % increase in their position. The disclosure for this purchase can be found here. 5.99% of the stock is currently owned by insiders.

United Fire Group Trading Down 1.6 %

Shares of NASDAQ UFCS opened at $26.21 on Friday. The firm has a market capitalization of $665.24 million, a P/E ratio of 11.01 and a beta of 0.33. The firm’s 50-day moving average price is $27.40 and its 200-day moving average price is $26.09. United Fire Group, Inc. has a 1-year low of $18.04 and a 1-year high of $31.70.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a return on equity of 8.84% and a net margin of 4.94%. Equities research analysts forecast that United Fire Group, Inc. will post 2.42 EPS for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Friday, March 7th. United Fire Group’s dividend payout ratio is currently 26.89%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler boosted their price objective on United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 12th. Finally, Jones Trading raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, March 5th.

About United Fire Group

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.