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

United Fire Group (NASDAQ:UFCS) announced 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. United Fire Group had a net margin of 4.15% and a return on equity of 6.87%. The firm had revenue of $322.96 million during the quarter, compared to analyst estimates of $306.80 million. During the same period in the prior year, the business earned $0.31 EPS.

United Fire Group Stock Down 3.9 %

United Fire Group stock opened at $23.77 on Friday. The stock has a market cap of $602.33 million, a P/E ratio of 12.25 and a beta of 0.37. United Fire Group has a twelve month low of $18.04 and a twelve month high of $25.55. The company’s 50-day moving average price is $20.40 and its two-hundred day moving average price is $21.14.

United Fire Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders 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 annualized dividend and a yield of 2.69%. United Fire Group’s dividend payout ratio is currently 32.99%.

Wall Street Analyst Weigh In

UFCS has been the topic of several analyst reports. 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 target on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating on the stock in a research 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.