United Fire Group (NASDAQ:UFCS) Announces Quarterly Earnings Results, Beats Expectations By $0.64 EPS

United Fire Group (NASDAQ:UFCS) announced its earnings results on Tuesday. The insurance provider reported $1.25 earnings per share for the quarter, topping the consensus estimate 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 Trading Up 1.1 %

NASDAQ:UFCS traded up $0.28 during mid-day trading on Tuesday, hitting $25.06. The stock had a trading volume of 149,739 shares, compared to its average volume of 130,926. United Fire Group has a twelve month low of $18.04 and a twelve month high of $31.70. The stock has a 50-day simple moving average of $27.75 and a two-hundred day simple moving average of $23.87. The company has a market capitalization of $635.02 million, a PE ratio of 12.92 and a beta of 0.53.

United Fire Group Dividend Announcement

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

Insider Transactions at United Fire Group

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the completion of the transaction, the vice president now owns 12,523 shares in the company, valued at $370,680.80. This represents a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.99% of the company’s stock.

Wall Street Analysts Forecast Growth

UFCS has been the subject of several research analyst reports. StockNews.com upgraded United Fire Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 3rd. Piper Sandler raised United Fire Group from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $19.00 to $26.00 in a research report on Monday, November 18th.

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.