United Fire Group (NASDAQ:UFCS) Releases Quarterly Earnings Results, Beats Estimates By $0.60 EPS

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. 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 analyst estimates of $306.80 million. During the same period in the prior year, the business posted $0.31 earnings per share.

United Fire Group Stock Performance

Shares of UFCS traded down $0.97 during midday trading on Thursday, hitting $23.77. The company had a trading volume of 203,378 shares, compared to its average volume of 105,799. United Fire Group has a 1 year low of $18.04 and a 1 year high of $25.55. The firm has a market capitalization of $602.33 million, a P/E ratio of 16.62 and a beta of 0.37. The company’s 50-day simple moving average is $20.34 and its 200-day simple moving average is $21.12.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid 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 (DPR) is 44.76%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com raised United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th. Piper Sandler cut their price objective on United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a report on Thursday, August 8th.

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.