United Fire Group (NASDAQ:UFCS) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

United Fire Group (NASDAQ:UFCS) announced its quarterly earnings results on Tuesday. The insurance provider reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03), Zacks reports. The business had revenue of $301.17 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned ($2.27) EPS.

United Fire Group Trading Down 0.5 %

United Fire Group stock traded down $0.10 on Friday, hitting $18.43. 6,681 shares of the stock traded hands, compared to its average volume of 101,356. United Fire Group has a 1 year low of $18.28 and a 1 year high of $25.55. The firm has a market cap of $466.28 million, a P/E ratio of -26.85 and a beta of 0.38. The business’s fifty day simple moving average is $21.27 and its 200 day simple moving average is $22.11.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.64 annualized dividend and a yield of 3.47%. United Fire Group’s payout ratio is -92.75%.

Analysts Set New Price Targets

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

Insider Transactions at United Fire Group

In related news, Director Christopher R. Drahozal sold 2,500 shares of United Fire Group stock in a transaction dated 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 transaction, the director now directly owns 449,363 shares of the company’s stock, valued at approximately $9,463,584.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.