Principal Financial Group Inc. Sells 4,469 Shares of United Fire Group, Inc. (NASDAQ:UFCS)

Principal Financial Group Inc. lowered its position in United Fire Group, Inc. (NASDAQ:UFCS) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 100,270 shares of the insurance provider’s stock after selling 4,469 shares during the quarter. Principal Financial Group Inc.’s holdings in United Fire Group were worth $2,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of United Fire Group during the 3rd quarter worth $575,000. Barclays PLC raised its stake in shares of United Fire Group by 147.8% in the third quarter. Barclays PLC now owns 44,380 shares of the insurance provider’s stock worth $928,000 after buying an additional 26,469 shares during the period. Geode Capital Management LLC lifted its position in shares of United Fire Group by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 502,232 shares of the insurance provider’s stock valued at $10,514,000 after buying an additional 2,925 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in United Fire Group in the 3rd quarter worth approximately $211,000. Finally, State Street Corp lifted its holdings in United Fire Group by 2.2% during the third quarter. State Street Corp now owns 821,566 shares of the insurance provider’s stock valued at $17,195,000 after purchasing an additional 17,415 shares in the last quarter. Institutional investors own 62.68% of the company’s stock.

Insider Buying and Selling

In other news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $29.60, for a total transaction of $78,854.40. Following the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. The trade was a 17.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $19.00 to $26.00 in a research note on Monday, November 18th. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

United Fire Group Stock Performance

Shares of NASDAQ:UFCS opened at $28.13 on Friday. The firm has a market cap of $712.87 million, a price-to-earnings ratio of 14.50 and a beta of 0.54. The firm has a fifty day moving average price of $27.55 and a 200 day moving average price of $23.01. United Fire Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $31.70.

United Fire Group (NASDAQ:UFCS) last issued its earnings results on Tuesday, November 5th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.60. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. The firm had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, research analysts predict that United Fire Group, Inc. will post 1.84 earnings per share for the current year.

United Fire Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.28%. United Fire Group’s dividend payout ratio is currently 32.99%.

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; 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.