United Fire Group, Inc (NASDAQ:UFCS) to Issue $0.20 Quarterly Dividend

United Fire Group, Inc (NASDAQ:UFCS) announced a quarterly dividend on Friday, August 21st. Investors of record on Friday, September 4th will be given a dividend of 0.20 per share by the insurance provider on Friday, September 18th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, September 4th.

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% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Fire Group to earn $5.03 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 15.9%.

United Fire Group Stock Up 0.5%

UFCS opened at $54.15 on Wednesday. The firm has a market cap of $1.39 billion, a P/E ratio of 10.07 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.34 and a current ratio of 0.34. The business has a 50 day moving average price of $52.60 and a 200 day moving average price of $45.53. United Fire Group has a twelve month low of $29.74 and a twelve month high of $55.82.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings results on Monday, August 3rd. The insurance provider reported $1.30 EPS for the quarter, beating the consensus estimate of $0.69 by $0.61. United Fire Group had a return on equity of 15.19% and a net margin of 9.57%.The company had revenue of $383.73 million for the quarter, compared to the consensus estimate of $347.76 million. Research analysts forecast that United Fire Group will post 4.75 EPS for the current year.

Insider Transactions at United Fire Group

In other United Fire Group news, Director George D. Milligan purchased 4,500 shares of the stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $45.23 per share, with a total value of $203,535.00. Following the acquisition, the director directly owned 90,034 shares of the company’s stock, valued at $4,072,237.82. This represents a 5.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.06% of the stock is owned by company insiders.

Institutional Trading of United Fire Group

Several institutional investors have recently made changes to their positions in UFCS. Smartleaf Asset Management LLC increased its stake in United Fire Group by 129.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock valued at $25,000 after acquiring an additional 387 shares during the period. Basepoint Wealth LLC acquired a new position in United Fire Group in the fourth quarter worth about $26,000. Allworth Financial LP acquired a new position in United Fire Group in the second quarter worth about $34,000. Federated Hermes Inc. lifted its stake in United Fire Group by 109.5% during the fourth quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 622 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in United Fire Group by 812.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 1,398 shares during the period. 62.68% of the stock is currently owned by institutional investors and hedge funds.

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.