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

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

United Fire Group Stock Down 3.9 %

Shares of United Fire Group stock traded down $0.97 during trading on Thursday, reaching $23.77. The company’s stock had a trading volume of 203,378 shares, compared to its average volume of 105,799. The business has a 50 day moving average price of $20.34 and a 200-day moving average price of $21.12. The company has a market capitalization of $602.33 million, a P/E ratio of 16.62 and a beta of 0.37. United Fire Group has a 12-month low of $18.04 and a 12-month high of $25.55.

United Fire Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.16 dividend. 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 is currently 44.76%.

Wall Street Analysts Forecast Growth

UFCS has been the subject of several analyst reports. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Piper Sandler cut their price objective on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a research report 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.