Pecaut & CO. Sells 2,000 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Pecaut & CO. trimmed its position in United Fire Group, Inc. (NASDAQ:UFCS) by 19.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,200 shares of the insurance provider’s stock after selling 2,000 shares during the quarter. Pecaut & CO.’s holdings in United Fire Group were worth $233,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in United Fire Group in the 4th quarter valued at about $27,000. Point72 Asset Management L.P. raised its holdings in United Fire Group by 576.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,411 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 4,611 shares during the period. Globeflex Capital L P bought a new position in United Fire Group in the 4th quarter valued at about $119,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in United Fire Group by 82.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,864 shares of the insurance provider’s stock valued at $144,000 after acquiring an additional 3,098 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in United Fire Group in the 4th quarter valued at about $203,000. 62.68% of the stock is owned by institutional investors.

United Fire Group Trading Up 1.0 %

Shares of UFCS opened at $29.04 on Friday. United Fire Group, Inc. has a 12 month low of $18.04 and a 12 month high of $31.70. The firm’s 50 day moving average is $26.61 and its 200-day moving average is $25.20. The stock has a market capitalization of $737.06 million, a PE ratio of 12.20 and a beta of 0.45.

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

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.20%. United Fire Group’s dividend payout ratio is presently 26.89%.

Analysts Set New Price Targets

UFCS has been the topic of several research analyst reports. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on shares of United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Jones Trading raised shares of United Fire Group to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Wednesday, March 5th.

Insider Transactions at United Fire Group

In related news, major shareholder Dee Ann Mcintyre sold 2,500 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $27.31, for a total transaction of $68,275.00. Following the sale, the insider now owns 446,863 shares in the company, valued at approximately $12,203,828.53. This trade represents a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Noyce purchased 2,000 shares of United Fire Group stock in a transaction that occurred on Friday, February 14th. The shares were purchased at an average price of $26.97 per share, for a total transaction of $53,940.00. Following the transaction, the director now directly 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. Insiders own 5.99% of the company’s stock.

United Fire Group Company Profile

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.