United Fire Group (NASDAQ:UFCS) Announces Earnings Results

by · The Cerbat Gem

United Fire Group (NASDAQ:UFCS – Get Free Report) released its earnings results 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. The firm had revenue of $322.96 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.31 EPS.

United Fire Group Trading Down 3.9 %

NASDAQ:UFCS traded down $0.97 during mid-day trading on Thursday, hitting $23.77. The company’s stock had a trading volume of 201,307 shares, compared to its average volume of 105,799. United Fire Group has a fifty-two week low of $18.04 and a fifty-two week high of $25.55. The company has a market capitalization of $602.33 million, a price-to-earnings ratio of 16.62 and a beta of 0.37. The stock has a fifty day moving average of $20.34 and a 200-day moving average of $21.12.

United Fire Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, August 30th. United Fire Group’s dividend payout ratio (DPR) is presently 44.76%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. 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.

Get Our Latest Stock Analysis on United Fire Group

About United Fire Group

(Get Free Report)

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.

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