United Fire Group (NASDAQ:UFCS) Issues Quarterly Earnings Results

United Fire Group (NASDAQ:UFCS) issued its quarterly earnings data on Tuesday. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.60, Zacks reports. The firm had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. During the same period in the prior year, the firm earned $0.31 earnings per share.

United Fire Group Trading Down 3.9 %

Shares of UFCS traded down $0.97 during mid-day trading on Thursday, hitting $23.77. 201,307 shares of the company traded hands, compared to its average volume of 105,799. The business has a 50-day moving average of $20.34 and a 200 day moving average of $21.12. United Fire Group has a one year low of $18.04 and a one year high of $25.55. The stock has a market capitalization of $602.33 million, a price-to-earnings ratio of 16.62 and a beta of 0.37.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 2.69%. United Fire Group’s dividend payout ratio (DPR) is currently 44.76%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler decreased their price objective on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a research note on Thursday, August 8th. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

United Fire Group Company 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.