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

United Fire Group (NASDAQ:UFCS) issued 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 business had revenue of $322.96 million for 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 earned $0.31 earnings per share.

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’s 50-day moving average price is $20.34 and its 200-day moving average price is $21.12. The firm has a market cap of $602.33 million, a PE ratio of 17.30 and a beta of 0.37. United Fire Group has a 52 week low of $18.04 and a 52 week high of $25.55.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.16 dividend. The ex-dividend date 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 payout ratio is presently 44.76%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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 decreased their price objective on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a 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.