According to the most recent disclosure that the company has made with the SEC, during the third quarter, Strs Ohio increased the percentage of shares that it owned in United Fire Group, Inc. (NASDAQ: UFCS). Following the completion of the period, the company held a total of 22,600 shares of the insurance provider’s stock, having increased its holdings by purchasing an additional 14,800 shares. The most recent disclosure that Strs Ohio made to the SEC indicated that the company held shares in United Fire Group with a value of approximately $649,000, equivalent to approximately 0.09% of the company.
During the past few months, several institutional investors have modified the interests that they currently hold in the company. The Alaska State Department of Revenue increased the amount of United Fire Group stock owned by 8.9 percent during the second quarter. After making an additional purchase of 1,340 shares during the period in question, the State of Alaska Department of Revenue now has 16,362 shares of the insurance provider’s stock, which is currently valued at $560,000. This brings the department’s total holdings to 16,362 shares of the insurance provider’s stock. The total amount of money that Monarch Partners Asset Management LLC has invested in United Fire Group as of the end of the second quarter was also $3,071,000. This brings the total amount of money the company has invested to $3,071,000. Venture Visionary Partners LLC increased its holdings in United Fire Group by purchasing an additional 101 thousand shares during its second quarter. Foundry Partners LLC increased its ownership stake in United Fire Group by purchasing additional stock during the third quarter by investing the amount of $3,231,000. And finally, during the period covered by the report for the second quarter, the percentage of United Fire Group stock owned by Mutual of America Capital Management LLC increased by 16.6%. In the most recent fiscal quarter, Mutual of America Capital Management LLC increased its ownership of the insurance provider by purchasing 516 additional shares, bringing the total number of shares they own in the company to 3,629; there is currently a $124,000 price tag attached to these shares. Institutional investors currently own the shares of the company to the extent of 64.56%.
In recent years, numerous expert studies have focused on UFCS as their primary research subject. Piper Sandler increased their price objective on United Fire Group from $29.00 to $30.00 in a research note published on Tuesday, January 10. The research study on United Fire Group that StockNews.com initially published on October 12 marked the first time that the company had been the focus of one of their studies. They recommended that shareholders “hold” their shares of the company.
At the beginning of trading on Wednesday, a share of UFCS was $30.41. United Fire Group, Inc. hit a low of $22.96 over the past year, while the company reached a high of $37.26 over the same period. The simple moving average of the company’s stock price over the past 50 days is $28.58, and the simple moving average over the last 200 days is $29.89. The company’s stock has a price-to-earnings ratio of 14.69 and a beta value of 0.09; these metrics combine to give the company a market capitalization of $766.24 million.
On November 2, a report detailing the performance of United Fire Group (NASDAQ: UFCS) was made available to the public. The insurance company reported earnings per share (EPS) of $0.47 for the quarter, which was $0.01 more than the consensus estimate of analysts, which was $0.48. For the quarter, the insurance company reported earnings per share (EPS) of $0.47, which was $0.01 more than analysts’ consensus estimate. The positive performance of United Fire Group is demonstrated by its healthy net margin of 5.41% and the 8.22% return on equity it achieved. The actual revenue the company brought in for the quarter was $235.57 million, which is higher than the $234.40 million in revenue projected for the company throughout the quarter. This year, equity research analysts forecast that United Fire Group, Inc. will generate $1.27 per share earnings.
In addition, the company has just recently announced and paid out a quarterly dividend, which was done so on December 16. On Friday, December 2, dividend payments totaling $0.16 were made to shareholders who had their shares recorded by the company by that day. The dividend was distributed to the company’s shareholders on the first Thursday of December. This translates to a dividend payment of $0.64 per share and a yield of 2.10% when calculated annually. Currently, 30.92% of United Fire Group’s profits are distributed to shareholders.
In related news, Director Mark A. Green made a purchase of 1,800 shares of company stock on November 7, which is relevant to this topic in some other way as well. The total price of the shares was $50,958.00, and the individual price of each share was, on average, $28.31. After the transaction was completed without a hitch, the director is now the proud owner of 4,205 company shares, which have a total value of approximately $119,043.55 in the current market. If you follow this link, you will be brought to the SEC filing in which the acquisition was discussed, so make sure you do so. The total number of shares held by company insiders amounts to 5.71% of the total number of shares issued by the company.