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Dee Ann McIntyre, a significant shareholder of United Fire Group Inc (NASDAQ:UFCS), executed a series of stock sales earlier this month. According to a recent SEC filing, McIntyre sold a total of 7,500 shares of UFCS common stock over three consecutive days. The transactions, conducted on March 4th, 5th, and 6th, were priced between $27.3133 and $28.3344 per share, garnering a total of $209,332. The sales come as UFCS shares have surged approximately 43% over the past six months, according to InvestingPro data.
These shares were sold indirectly through the McIntyre Foundation, where McIntyre serves as one of the directors. Following these transactions, McIntyre’s indirect holdings through the foundation are reported to be 441,863 shares.
In addition to the shares held by the McIntyre Foundation, McIntyre’s total holdings include shares held by various trusts and personal accounts. The Dee Ann McIntyre Irrevocable Trust holds 449,675 shares, while the Dee Ann McIntyre Marital Election Trust holds 2,426,533 shares. Furthermore, McIntyre directly owns 57,634 shares, which include holdings in individual retirement accounts and revocable trusts.
The transactions highlight McIntyre’s ongoing involvement and significant stake in United Fire Group, a company specializing in fire, marine, and casualty insurance. The company has maintained dividend payments for 53 consecutive years, demonstrating strong financial stability. For deeper insights into UFCS’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, United Fire Group reported fourth-quarter earnings that significantly exceeded analyst expectations. The company achieved adjusted earnings per share of $1.25, which was $0.64 higher than the anticipated $0.61. Revenue for the quarter reached $333.18 million, surpassing the expected $294.8 million. Net income increased to $31.4 million from $19.6 million in the same quarter the previous year, and net written premiums grew by 13% year-over-year to $278.5 million. For the full year 2024, net income rose to $62.0 million, with net investment income increasing by 37.5% to $82.0 million. The combined ratio improved by 10.1 points to 99.2%, reflecting progress in the company’s strategic business plan.
Additionally, Jones Trading initiated coverage on United Fire Group with a Buy rating and a price target of $32.00, citing the company’s growth potential in earned premiums and strategic positioning in the insurance sector. The analysts at Jones Trading also highlighted the company’s broad distribution network and focus on cost efficiency as key factors for substantial revenue growth and improved earnings. These developments indicate positive momentum for United Fire Group, supported by a refreshed management team and a focus on profitability.
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