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

United Fire Group (NASDAQ:UFCS) posted its earnings results on Tuesday. The insurance provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.64, Zacks reports. United Fire Group had a net margin of 4.15% and a return on equity of 6.75%.

United Fire Group Stock Performance

Shares of NASDAQ UFCS opened at $25.06 on Wednesday. United Fire Group has a fifty-two week low of $18.04 and a fifty-two week high of $31.70. The company has a 50 day simple moving average of $27.63 and a two-hundred day simple moving average of $23.90. The company has a market capitalization of $635.02 million, a price-to-earnings ratio of 12.92 and a beta of 0.53.

United Fire Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date was Friday, November 29th. United Fire Group’s payout ratio is currently 32.99%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UFCS shares. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $19.00 to $26.00 in a report on Monday, November 18th. StockNews.com raised shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

Insider Buying and Selling at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares of the company’s stock, valued at approximately $370,680.80. This trade represents a 17.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.99% of the company’s stock.

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.