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

United Fire Group (NASDAQ:UFCS) released 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 Up 1.1 %

UFCS traded up $0.28 during midday trading on Tuesday, hitting $25.06. 147,443 shares of the company traded hands, compared to its average volume of 128,106. The firm has a market capitalization of $635.02 million, a PE ratio of 12.92 and a beta of 0.53. The company’s 50-day moving average is $27.75 and its 200 day moving average is $23.87. United Fire Group has a 52 week low of $18.04 and a 52 week high of $31.70.

United Fire Group Dividend Announcement

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

Analyst Upgrades and Downgrades

UFCS has been the topic of a number of analyst reports. StockNews.com upgraded shares of United Fire Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, February 3rd. Piper Sandler upgraded shares of United Fire Group from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $19.00 to $26.00 in a research note on Monday, November 18th.

Insider Buying and Selling 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 dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total transaction of $78,854.40. Following the transaction, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. This represents a 17.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.99% of the company’s stock.

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.