Systematic Financial Management LP lifted its stake in United Fire Group, Inc. (NASDAQ:UFCS) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 492,118 shares of the insurance provider’s stock after purchasing an additional 430 shares during the period. United Fire Group makes up 0.9% of Systematic Financial Management LP’s investment portfolio, making the stock its 12th largest holding. Systematic Financial Management LP owned 1.95% of United Fire Group worth $23,848,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in UFCS. Strs Ohio grew its position in United Fire Group by 7.7% in the 2nd quarter. Strs Ohio now owns 5,600 shares of the insurance provider’s stock valued at $271,000 after buying an additional 400 shares in the last quarter. Arizona State Retirement System lifted its stake in United Fire Group by 0.9% during the second quarter. Arizona State Retirement System now owns 33,231 shares of the insurance provider’s stock valued at $1,610,000 after buying an additional 303 shares in the last quarter. Bessemer Group Inc. lifted its stake in United Fire Group by 4.1% during the second quarter. Bessemer Group Inc. now owns 55,800 shares of the insurance provider’s stock valued at $2,704,000 after buying an additional 2,200 shares in the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in United Fire Group during the second quarter valued at about $211,000. Finally, 6 Meridian lifted its stake in United Fire Group by 3.1% during the second quarter. 6 Meridian now owns 13,450 shares of the insurance provider’s stock valued at $652,000 after buying an additional 410 shares in the last quarter. Institutional investors own 62.15% of the company’s stock.
In related news, VP Neal R. Scharmer sold 2,176 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $49.24, for a total value of $107,146.24. Following the transaction, the vice president now owns 17,647 shares in the company, valued at $868,938.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Neal R. Scharmer sold 3,041 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $48.88, for a total value of $148,644.08. Following the completion of the transaction, the vice president now owns 16,422 shares in the company, valued at approximately $802,707.36. The disclosure for this sale can be found here. Insiders sold a total of 8,026 shares of company stock worth $394,639 in the last quarter. 6.66% of the stock is owned by corporate insiders.
Shares of UFCS traded down $6.32 during trading hours on Wednesday, reaching $45.65. The company’s stock had a trading volume of 7,537 shares, compared to its average volume of 68,194. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 91.86 and a beta of -0.10. United Fire Group, Inc. has a 1-year low of $40.86 and a 1-year high of $56.86. The firm has a 50 day moving average of $49.36.
United Fire Group (NASDAQ:UFCS) last issued its earnings results on Wednesday, May 8th. The insurance provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.38. The company had revenue of $332.25 million for the quarter. United Fire Group had a return on equity of 1.63% and a net margin of 2.35%.
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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.
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