Corey Lynn Ruehle, Vice President and Chief Claims Officer at United Fire Group Inc. (NASDAQ:UFCS), recently sold 2,664 shares of common stock. The sale, executed on December 19, 2024, was at an average price of $29.6008 per share, totaling approximately $78,856. Following the transaction, Ruehle holds 12,522.9116 shares directly. The transaction occurred as UFCS stock has shown remarkable strength, posting a year-to-date return of nearly 51% and trading near its 52-week high of $31.70.
In a related transaction on the same day, Ruehle also exercised stock options to acquire 2,664 shares at a price of $29.12 per share. The exercise of these options amounted to a total value of $77,575. This activity was detailed in a recent SEC Form 4 filing. According to InvestingPro analysis, UFCS appears slightly undervalued at its current market cap of $747 million. InvestingPro subscribers can access 8 additional key insights about UFCS, including detailed insider trading patterns and comprehensive financial health metrics.
"In other recent news, United Fire Group Insurance reported strong Q3 results, marking the highest net and operating income in ten quarters. The company's net written premiums rose by 23% to $305.6 million, largely driven by growth in the core commercial and alternative distribution sectors. The GAAP combined ratio also improved, signaling a robust underwriting performance. Despite a 20% reduction in total headcount since 2023, the company is still grappling with a high expense ratio. However, analysts remain optimistic about sustainable loss ratio improvements, with a notable growth across all business units. In a bid to enhance its risk profiles and sustain growth momentum, the company plans to concentrate on larger, more sophisticated accounts. These recent developments underline United Fire Group Insurance's commitment to strategic growth and shareholder value."
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