United Fire Group, Inc. Declares Quarterly Dividend of $0.16 (NASDAQ:UFCS)

United Fire Group, Inc. (NASDAQ:UFCS) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Shareholders of record on Friday, March 7th will be paid a dividend of 0.16 per share by the insurance provider on Friday, March 21st. This represents a $0.64 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, March 7th.

United Fire Group has increased its dividend by an average of 2.2% per year over the last three years. United Fire Group has a payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Fire Group to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 24.2%.

United Fire Group Stock Up 2.0 %

UFCS traded up $0.51 on Monday, hitting $25.98. The company’s stock had a trading volume of 169,286 shares, compared to its average volume of 156,877. United Fire Group has a 12 month low of $18.04 and a 12 month high of $31.70. The firm has a market cap of $658.39 million, a P/E ratio of 10.92 and a beta of 0.53. The company’s 50 day simple moving average is $26.88 and its 200-day simple moving average is $24.18.

United Fire Group (NASDAQ:UFCS) last released its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.64. United Fire Group had a net margin of 4.94% and a return on equity of 8.84%. Equities analysts predict that United Fire Group will post 2.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on UFCS shares. StockNews.com raised United Fire Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 12th. Piper Sandler increased their price objective on United Fire Group from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th.

Insider Activity

In other United Fire Group news, VP Corey Lynn Ruehle sold 2,664 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $29.60, for a total value of $78,854.40. Following the transaction, the vice president now owns 12,523 shares in the company, valued at approximately $370,680.80. The trade was a 17.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Noyce bought 2,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were purchased at an average price of $26.97 per share, with a total value of $53,940.00. Following the completion of the acquisition, the director now owns 27,316 shares of the company’s stock, valued at $736,712.52. This trade represents a 7.90 % increase in their position. The disclosure for this purchase can be found here. 5.99% of the stock is owned by corporate insiders.

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.