First Trust Advisors LP lowered its stake in United Fire Group Inc. (NASDAQ:UFCS) by 48.0% during the second quarter, Holdings Channel reports. The institutional investor owned 29,388 shares of the company’s stock after selling 27,152 shares during the period. First Trust Advisors LP owned approximately 0.12% of United Fire Group worth $1,247,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Fund Advisors boosted its stake in United Fire Group by 0.4% in the first quarter. BlackRock Fund Advisors now owns 1,292,497 shares of the company’s stock valued at $56,637,000 after buying an additional 5,247 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in United Fire Group by 6.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 600,847 shares of the company’s stock valued at $26,329,000 after buying an additional 38,900 shares in the last quarter. Norges Bank bought a new stake in United Fire Group during the fourth quarter valued at approximately $12,556,000. Prudential Financial Inc. boosted its stake in United Fire Group by 9.2% in the first quarter. Prudential Financial Inc. now owns 225,740 shares of the company’s stock valued at $9,892,000 after buying an additional 19,027 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in United Fire Group by 17.9% in the first quarter. Renaissance Technologies LLC now owns 82,500 shares of the company’s stock valued at $3,615,000 after buying an additional 12,500 shares in the last quarter. Institutional investors and hedge funds own 60.34% of the company’s stock.
United Fire Group Inc. (NASDAQ:UFCS) traded up 0.50% during mid-day trading on Friday, hitting $42.32. 52,930 shares of the company traded hands. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.19 and a beta of 0.29. United Fire Group Inc. has a one year low of $34.38 and a one year high of $45.75. The company’s 50-day moving average price is $42.72 and its 200 day moving average price is $42.56.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Tuesday, August 30th. United Fire Group’s dividend payout ratio is presently 33.56%.
In other news, VP Neal R. Scharmer sold 2,020 shares of United Fire Group stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $42.50, for a total transaction of $85,850.00. Following the completion of the sale, the vice president now owns 13,065 shares in the company, valued at approximately $555,262.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.
United Fire Group Company Profile
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.
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