United Fire Group (NASDAQ:UFCS) Posts Quarterly Earnings Results

United Fire Group (NASDAQ:UFCSGet Rating) posted its quarterly earnings results on Thursday. The insurance provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.29, MarketWatch Earnings reports. United Fire Group had a return on equity of 5.14% and a net margin of 7.56%. During the same quarter last year, the business posted ($0.03) EPS.

Shares of NASDAQ UFCS opened at $30.30 on Friday. United Fire Group has a 12 month low of $19.85 and a 12 month high of $33.31. The stock has a 50 day moving average of $29.53 and a 200-day moving average of $25.70. The company has a market capitalization of $761.14 million, a P/E ratio of 8.51 and a beta of 0.09.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Friday, March 4th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, March 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.98%. United Fire Group’s dividend payout ratio is currently 16.85%.

Several research analysts have weighed in on the company. TheStreet lowered United Fire Group from a “b-” rating to a “c” rating in a research report on Thursday. StockNews.com assumed coverage on United Fire Group in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research lowered United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Finally, Piper Sandler boosted their price target on United Fire Group from $30.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 21st. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $36.00.

Several hedge funds and other institutional investors have recently modified their holdings of UFCS. Advisor Group Holdings Inc. boosted its stake in shares of United Fire Group by 9.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 7,240 shares of the insurance provider’s stock worth $225,000 after acquiring an additional 608 shares during the period. Cubist Systematic Strategies LLC bought a new stake in United Fire Group in the 3rd quarter valued at $229,000. Guggenheim Capital LLC bought a new stake in United Fire Group in the 4th quarter valued at $277,000. Norges Bank bought a new stake in United Fire Group in the 4th quarter valued at $340,000. Finally, Credit Suisse AG boosted its stake in United Fire Group by 10.3% in the 4th quarter. Credit Suisse AG now owns 15,720 shares of the insurance provider’s stock valued at $365,000 after purchasing an additional 1,469 shares during the period. Institutional investors own 60.65% of the company’s stock.

United Fire Group Company Profile (Get Rating)

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 commercial multiple peril and inland marine insurance, as well as assumed reinsurance products.

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Earnings History for United Fire Group (NASDAQ:UFCS)

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