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

United Fire Group (NASDAQ:UFCS) released its earnings results on Tuesday. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $322.96 million during the quarter, compared to analysts’ expectations of $306.80 million. During the same quarter last year, the company earned $0.31 earnings per share.

United Fire Group Stock Performance

Shares of UFCS stock opened at $23.77 on Friday. United Fire Group has a 52-week low of $18.04 and a 52-week high of $25.55. The stock has a market cap of $602.33 million, a PE ratio of 12.25 and a beta of 0.37. The firm’s 50 day moving average price is $20.40 and its two-hundred day moving average price is $21.14.

United Fire Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.16 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.64 dividend on an annualized basis and a yield of 2.69%. United Fire Group’s payout ratio is presently 32.99%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. 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 dropped 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 report on Thursday, August 8th.

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.