Hillsdale Investment Management Inc. acquired a new position in shares of United Fire Group, Inc. (NASDAQ:UFCS) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 2,100 shares of the insurance provider’s stock, valued at approximately $102,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Texas Permanent School Fund increased its holdings in United Fire Group by 3.9% during the 1st quarter. Texas Permanent School Fund now owns 14,493 shares of the insurance provider’s stock worth $633,000 after purchasing an additional 547 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of United Fire Group by 200.3% in the first quarter. SG Americas Securities LLC now owns 9,557 shares of the insurance provider’s stock valued at $418,000 after acquiring an additional 6,374 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of United Fire Group by 10.1% in the first quarter. Great West Life Assurance Co. Can now owns 29,884 shares of the insurance provider’s stock valued at $1,304,000 after acquiring an additional 2,736 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of United Fire Group by 1.2% in the first quarter. Systematic Financial Management LP now owns 491,688 shares of the insurance provider’s stock valued at $21,492,000 after acquiring an additional 5,632 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of United Fire Group by 4.1% in the second quarter. Bessemer Group Inc. now owns 55,800 shares of the insurance provider’s stock valued at $2,704,000 after acquiring an additional 2,200 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Neal R. Scharmer sold 1,824 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $49.70, for a total value of $90,652.80. Following the transaction, the vice president now owns 17,471 shares in the company, valued at $868,308.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Neal R. Scharmer sold 985 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $48.93, for a total value of $48,196.05. Following the completion of the transaction, the vice president now owns 16,662 shares in the company, valued at approximately $815,271.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,026 shares of company stock valued at $394,639. 6.66% of the stock is currently owned by corporate insiders.

Shares of UFCS stock traded up $0.05 during trading on Wednesday, hitting $45.26. The company’s stock had a trading volume of 5,463 shares, compared to its average volume of 89,439. The company has a market cap of $1.16 billion, a PE ratio of 2,301.00 and a beta of -0.10. The business has a fifty day moving average of $48.79 and a 200-day moving average of $47.37. United Fire Group, Inc. has a 52 week low of $40.86 and a 52 week high of $56.21.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Wednesday, August 7th. The insurance provider reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.60). The business had revenue of $304.20 million during the quarter. United Fire Group had a net margin of 1.91% and a return on equity of 0.11%.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, August 29th.

UFCS has been the subject of several recent analyst reports. BidaskClub raised United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. TheStreet raised United Fire Group from a “c+” rating to a “b-” rating in a report on Wednesday, June 5th.

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

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