California State Teachers Retirement System lowered its stake in shares of United Fire Group, Inc. (NASDAQ:UFCS) by 9.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,322 shares of the insurance provider’s stock after selling 3,643 shares during the period. California State Teachers Retirement System’s holdings in United Fire Group were worth $1,573,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of UFCS. Flinton Capital Management LLC boosted its position in shares of United Fire Group by 80.0% during the 2nd quarter. Flinton Capital Management LLC now owns 2,268 shares of the insurance provider’s stock worth $100,000 after purchasing an additional 1,008 shares during the period. SG Americas Securities LLC purchased a new position in shares of United Fire Group during the 3rd quarter worth approximately $163,000. Victory Capital Management Inc. boosted its position in shares of United Fire Group by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,170 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 626 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of United Fire Group during the 2nd quarter worth approximately $204,000. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of United Fire Group during the 2nd quarter worth approximately $231,000. 58.35% of the stock is owned by hedge funds and other institutional investors.

Separately, BidaskClub cut shares of United Fire Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.

In other United Fire Group news, insider Michael T. Wilkins sold 3,771 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $47.24, for a total transaction of $178,142.04. Following the sale, the insider now directly owns 37,704 shares in the company, valued at approximately $1,781,136.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James Noyce sold 1,323 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $48.31, for a total transaction of $63,914.13. Following the sale, the director now owns 10,828 shares in the company, valued at $523,100.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,481 shares of company stock worth $548,710. 5.83% of the stock is owned by company insiders.

United Fire Group, Inc. (NASDAQ:UFCS) opened at $45.32 on Friday. The firm has a market cap of $1,114.02, a P/E ratio of 99.51 and a beta of 0.71. United Fire Group, Inc. has a 1 year low of $38.97 and a 1 year high of $49.74.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Wednesday, November 8th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.87). The business had revenue of $269.55 million for the quarter. United Fire Group had a return on equity of 1.32% and a net margin of 1.49%.

United Fire Group announced that its board has initiated a share buyback program on Wednesday, November 8th that allows the company to buyback 2,240,000 outstanding shares. This buyback authorization allows the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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United Fire Group 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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Institutional Ownership by Quarter for United Fire Group (NASDAQ:UFCS)

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