United Fire Group (NASDAQ:UFCS) Issues Earnings Results

United Fire Group (NASDAQ:UFCS) announced its earnings results on Tuesday. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60, Zacks reports. The business had revenue of $322.96 million during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.31 earnings per share.

United Fire Group Stock Performance

NASDAQ UFCS traded down $0.97 during trading hours on Thursday, reaching $23.77. The stock had a trading volume of 201,307 shares, compared to its average volume of 105,799. United Fire Group has a 52-week low of $18.04 and a 52-week high of $25.55. The stock has a fifty day moving average of $20.40 and a 200 day moving average of $21.14. The stock has a market cap of $602.33 million, a P/E ratio of 16.62 and a beta of 0.37.

United Fire Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.69%. United Fire Group’s dividend payout ratio is currently 44.76%.

Analyst Ratings Changes

A number of equities analysts have commented on UFCS shares. StockNews.com upgraded shares of United Fire Group from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Piper Sandler dropped their price target on 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.

About United Fire Group

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.