United Fire Group, Inc. (NASDAQ:UFCS) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 305,600 shares, an increase of 8.8% from the May 30th total of 280,900 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 73,900 shares, the days-to-cover ratio is presently 4.1 days.
In related news, VP Neal R. Scharmer sold 1,824 shares of the firm’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 transaction of $90,652.80. Following the completion of the transaction, the vice president now owns 17,471 shares of the company’s stock, valued at approximately $868,308.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Neal R. Scharmer sold 2,176 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $49.24, for a total value of $107,146.24. Following the transaction, the vice president now directly owns 17,647 shares of the company’s stock, valued at approximately $868,938.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,037 shares of company stock valued at $1,635,294. 6.66% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in shares of United Fire Group by 56.0% in the 1st quarter. Bank of Montreal Can now owns 1,164 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 418 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of United Fire Group by 375.0% in the 1st quarter. Quadrant Capital Group LLC now owns 1,501 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 1,185 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in shares of United Fire Group in the 4th quarter worth $139,000. BNP Paribas Arbitrage SA increased its holdings in shares of United Fire Group by 181.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,846 shares of the insurance provider’s stock worth $212,000 after purchasing an additional 3,123 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of United Fire Group in the 4th quarter worth $228,000. 62.21% of the stock is owned by institutional investors and hedge funds.
UFCS has been the subject of a number of analyst reports. BidaskClub lowered Amyris from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. TheStreet lowered Weis Markets from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th.
UFCS stock opened at $48.42 on Wednesday. United Fire Group has a twelve month low of $40.86 and a twelve month high of $61.56. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 84.35 and a beta of -0.09. The company’s 50 day moving average is $48.19.
United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.38. United Fire Group had a return on equity of 1.63% and a net margin of 2.35%. The company had revenue of $332.25 million during the quarter.
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, 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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