United Fire Group (NASDAQ:UFCS) Posts Earnings Results

United Fire Group (NASDAQ:UFCS) issued its quarterly earnings results on Tuesday. The insurance provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03), Zacks reports. The company had revenue of $301.17 million during the quarter, compared to analyst estimates of $300.80 million. United Fire Group had a net margin of 3.17% and a return on equity of 5.27%. During the same period in the previous year, the company posted ($2.27) EPS.

United Fire Group Trading Down 0.7 %

NASDAQ UFCS traded down $0.14 during trading hours on Thursday, hitting $18.53. 141,957 shares of the company’s stock were exchanged, compared to its average volume of 101,979. The stock has a 50-day simple moving average of $21.35 and a 200 day simple moving average of $22.14. United Fire Group has a 1-year low of $18.28 and a 1-year high of $25.55.

United Fire Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.16 per share. The ex-dividend date was Friday, May 31st. This represents a $0.64 annualized dividend and a dividend yield of 3.45%. United Fire Group’s payout ratio is -92.75%.

Insider Buying and Selling at United Fire Group

In other news, Director Christopher R. Drahozal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $21.06, for a total transaction of $52,650.00. Following the completion of the sale, the director now owns 449,363 shares of the company’s stock, valued at approximately $9,463,584.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.99% of the company’s stock.

Wall Street Analyst Weigh In

UFCS has been the topic of several analyst reports. StockNews.com cut United Fire Group from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 27th. Piper Sandler decreased their price objective on shares of United Fire Group from $21.00 to $19.00 and set an “underweight” rating for the company in a research report on Thursday.

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.