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

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 the consensus estimate of $0.21 by $0.60, Zacks reports. United Fire Group had a net margin of 3.17% and a return on equity of 5.23%. The business had revenue of $322.96 million during the quarter, compared to analysts’ expectations of $306.80 million. During the same quarter in the prior year, the business posted $0.31 earnings per share.

United Fire Group Stock Down 3.9 %

Shares of UFCS stock traded down $0.97 on Thursday, reaching $23.77. The company had a trading volume of 203,378 shares, compared to its average volume of 105,799. The stock has a market capitalization of $602.33 million, a PE ratio of 17.30 and a beta of 0.37. United Fire Group has a one year low of $18.04 and a one year high of $25.55. The business’s 50-day moving average is $20.34 and its 200 day moving average is $21.12.

United Fire Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.69%. United Fire Group’s dividend payout ratio (DPR) is currently 44.76%.

Analyst Ratings Changes

Several research firms recently weighed in on UFCS. StockNews.com raised shares of 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 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.

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.