Dee Ann McIntyre, a significant shareholder of United Fire Group Inc. (NASDAQ:UFCS), has recently sold a total of 5,000 shares of the company's common stock, transactions that amounted to over $110,000. The shares were sold in two separate transactions on March 15 and March 18, with prices ranging between $21.9001 and $22.1474 per share.
The first sale on March 15 involved 2,500 shares at a price of $22.1474 each, and the second sale on March 18 consisted of another 2,500 shares, this time at a slightly lower price of $21.9001 per share. Following these transactions, McIntyre's direct and indirect holdings in United Fire Group Inc. remain substantial, including interests in the McIntyre Foundation and various trusts.
It's worth noting that the McIntyre Foundation, where Dee Ann McIntyre serves as a director, was involved in the indirect ownership of the sold shares. Additionally, McIntyre is a lifetime beneficiary of the Dee Ann McIntyre Irrevocable Trust, which also holds a significant number of shares in the company.
The direct holdings of Dee Ann McIntyre include shares in an individual retirement account, certificated shares, and shares held in a revocable trust for her benefit. The detailed breakdown of these direct holdings was provided in the footnotes of the SEC filing, offering transparency into the various ownership structures.
The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, which provides an official record of insider trades. The reported sales offer insight into the trading activities of United Fire Group's insiders, which can be a point of interest for current and potential investors.
United Fire Group Inc., based in Cedar Rapids, Iowa, operates in the fire, marine, and casualty insurance industry. The company's stock is publicly traded on the NASDAQ exchange under the ticker symbol UFCS.
InvestingPro Insights
Amidst the recent insider trading activity at United Fire Group Inc. (NASDAQ:UFCS), investors may find it beneficial to consider some key financial metrics and expert analysis to better understand the company's current market position. According to InvestingPro data, United Fire Group has a market capitalization of approximately $551.55 million, reflecting its valuation in the broader market. The company's price-to-earnings (P/E) ratio stands at -18.48, indicating that the market currently values the company's earnings negatively, which is consistent with the company not being profitable over the last twelve months.
However, analysts are optimistic about the company's future, as reflected in the InvestingPro Tip that net income is expected to grow this year. This could signal a potential turnaround for the company, which has maintained dividend payments for an impressive 52 consecutive years, showcasing its long-standing commitment to returning value to shareholders. The current dividend yield is noted at 2.9%, which could be an attractive point for income-focused investors.
On the other hand, United Fire Group is facing challenges with its profitability margins. The gross profit margin for the last twelve months as of Q4 2023 was reported at -3.17%, underlining the company's struggles with maintaining profitability in its operations. This is further supported by an InvestingPro Tip highlighting the company's weak gross profit margins.
For investors seeking a deeper dive into United Fire Group's financial health and future prospects, there are additional InvestingPro Tips available, including insights on the company's liquidity issues, as short-term obligations currently exceed liquid assets. To access these valuable insights and more, investors can visit https://www.investing.com/pro/UFCS. Utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the full range of 5 additional InvestingPro Tips that can guide investment decisions regarding United Fire Group Inc.
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