United Fire Group, Inc Announces Quarterly Dividend of $0.20 (NASDAQ:UFCS)

United Fire Group, Inc (NASDAQ:UFCS) announced a quarterly dividend on Wednesday, May 20th. Shareholders of record on Friday, June 5th will be given a dividend of 0.20 per share by the insurance provider on Friday, June 19th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th.

United Fire Group has decreased its dividend by an average of 0.1%annually over the last three years. United Fire Group has a dividend payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect United Fire Group to earn $4.95 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 16.2%.

United Fire Group Stock Performance

United Fire Group stock opened at $48.04 on Thursday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.23 billion, a PE ratio of 9.69 and a beta of 0.50. The firm has a fifty day simple moving average of $40.44 and a two-hundred day simple moving average of $37.87. United Fire Group has a twelve month low of $25.79 and a twelve month high of $49.94.

United Fire Group (NASDAQ:UFCS) last posted its quarterly earnings results on Tuesday, May 5th. The insurance provider reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.29. United Fire Group had a net margin of 9.16% and a return on equity of 14.65%. The business had revenue of $369.44 million during the quarter, compared to the consensus estimate of $340.16 million. Research analysts expect that United Fire Group will post 4.88 EPS for the current year.

Insider Transactions at United Fire Group

In related news, Director Christopher R. Drahozal sold 4,250 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $38.49, for a total transaction of $163,582.50. Following the transaction, the director owned 429,113 shares in the company, valued at $16,516,559.37. The trade was a 0.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dee Ann Mcintyre sold 4,250 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $38.84, for a total transaction of $165,070.00. Following the transaction, the insider owned 437,613 shares in the company, valued at $16,996,888.92. This represents a 0.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,750 shares of company stock worth $493,723 in the last 90 days. Corporate insiders own 6.06% of the company’s stock.

Hedge Funds Weigh In On United Fire Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP increased its position in shares of United Fire Group by 168.7% during the first quarter. Quantinno Capital Management LP now owns 43,842 shares of the insurance provider’s stock valued at $1,625,000 after buying an additional 27,526 shares during the period. First Trust Advisors LP increased its position in shares of United Fire Group by 1.0% during the first quarter. First Trust Advisors LP now owns 70,452 shares of the insurance provider’s stock valued at $2,611,000 after buying an additional 731 shares during the period. Dimensional Fund Advisors LP increased its position in shares of United Fire Group by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,489,968 shares of the insurance provider’s stock valued at $55,219,000 after buying an additional 12,329 shares during the period. Gallacher Capital Management LLC purchased a new position in shares of United Fire Group during the first quarter valued at about $237,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of United Fire Group by 11.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,573 shares of the insurance provider’s stock valued at $792,000 after buying an additional 2,206 shares during the period. Hedge funds and other institutional investors own 62.68% of the company’s stock.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.