New York State Teachers Retirement System Has $859,000 Stock Holdings in United Fire Group, Inc. (NASDAQ:UFCS)

New York State Teachers Retirement System cut its holdings in United Fire Group, Inc. (NASDAQ:UFCS) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,681 shares of the insurance provider’s stock after selling 1,647 shares during the quarter. New York State Teachers Retirement System owned about 0.17% of United Fire Group worth $859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tower Research Capital LLC TRC boosted its position in United Fire Group by 185.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,092 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 1,360 shares during the last quarter. Captrust Financial Advisors boosted its position in United Fire Group by 72.0% during the 1st quarter. Captrust Financial Advisors now owns 1,488 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 623 shares during the last quarter. Quantbot Technologies LP acquired a new position in United Fire Group during the 3rd quarter worth approximately $67,000. UBS Group AG boosted its position in United Fire Group by 34.5% during the 3rd quarter. UBS Group AG now owns 3,182 shares of the insurance provider’s stock worth $91,000 after acquiring an additional 817 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in United Fire Group by 51.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,838 shares of the insurance provider’s stock worth $119,000 after acquiring an additional 1,302 shares during the last quarter. 62.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.15, for a total value of $55,375.00. Following the sale, the director now owns 454,363 shares in the company, valued at approximately $10,064,140.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Christopher R. Drahozal sold 2,500 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $22.15, for a total value of $55,375.00. Following the sale, the director now owns 454,363 shares in the company, valued at approximately $10,064,140.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Micah G. Woolstenhulme purchased 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average price of $21.76 per share, for a total transaction of $32,640.00. Following the purchase, the vice president now owns 32,763 shares in the company, valued at approximately $712,922.88. The disclosure for this purchase can be found here. 5.99% of the stock is currently owned by insiders.

United Fire Group Trading Up 1.9 %

NASDAQ UFCS opened at $22.03 on Friday. The company has a market cap of $556.92 million, a PE ratio of -18.67 and a beta of 0.35. United Fire Group, Inc. has a 12 month low of $18.41 and a 12 month high of $27.72. The stock has a 50 day moving average of $22.44 and a 200-day moving average of $21.28.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings data on Tuesday, February 13th. The insurance provider reported $0.65 EPS for the quarter, beating the consensus estimate of $0.53 by $0.12. The company had revenue of $287.32 million during the quarter, compared to the consensus estimate of $278.70 million. United Fire Group had a negative return on equity of 4.38% and a negative net margin of 2.71%. As a group, sell-side analysts predict that United Fire Group, Inc. will post 1.1 EPS for the current fiscal year.

United Fire Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Thursday, March 7th. United Fire Group’s payout ratio is presently -54.24%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UFCS. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 14th. Piper Sandler reaffirmed an “underweight” rating and set a $21.00 price target on shares of United Fire Group in a research report on Monday, April 1st.

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.