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

United Fire Group (NASDAQ:UFCS) issued its quarterly earnings results on Tuesday. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.60, Zacks reports. The company had revenue of $322.96 million for the quarter, compared to analysts’ expectations of $306.80 million. United Fire Group had a return on equity of 5.23% and a net margin of 3.17%. During the same quarter last year, the business earned $0.31 earnings per share.

United Fire Group Stock Performance

Shares of UFCS traded down $0.97 during mid-day trading on Thursday, reaching $23.77. The company had a trading volume of 201,307 shares, compared to its average volume of 105,799. 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 company’s 50 day simple moving average is $20.34 and its 200 day simple moving average is $21.12. United Fire Group has a 1-year low of $18.04 and a 1-year high of $25.55.

United Fire Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.16 per share. 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 payout ratio is 44.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Piper Sandler reduced 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 research note on Thursday, August 8th. StockNews.com raised shares of United Fire Group from a “hold” rating to a “buy” rating in a research note on Friday, October 4th.

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.