United Fire Group, Inc (NASDAQ:UFCS) Announces $0.16 Quarterly Dividend

Key Points

• United Fire Group, Inc has announced a quarterly dividend of $0.16 per share, which will be paid on September 12th to stockholders recorded as of August 29th. This results in an annualized dividend yield of 2.1%.
• The company reported earnings of $0.90 per share for the last quarter, exceeding expectations by $0.33, although revenue of $314.80 million fell short of analyst predictions.
• Analysts have upgraded United Fire Group's rating to "strong-buy" and raised the price target from $32.00 to $33.00, reflecting positive sentiment regarding its future performance.

United Fire Group, Inc (NASDAQ:UFCS - Get Free Report) declared a quarterly dividend on Friday, August 15th, RTT News reports. Stockholders of record on Friday, August 29th will be paid a dividend of 0.16 per share by the insurance provider on Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 29th.

United Fire Group has a dividend payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of UFCS traded down $0.12 during trading hours on Monday, reaching $30.54. 104,496 shares of the company traded hands, compared to its average volume of 127,880. The stock has a market capitalization of $778.46 million, a P/E ratio of 8.70 and a beta of 0.53. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.14. United Fire Group has a 12-month low of $19.19 and a 12-month high of $31.70. The business has a fifty day moving average price of $28.09 and a 200-day moving average price of $27.75.

United Fire Group (NASDAQ:UFCS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.57 by $0.33. United Fire Group had a net margin of 6.94% and a return on equity of 11.84%. The company had revenue of $314.80 million for the quarter, compared to analyst estimates of $337.99 million. Equities analysts anticipate that United Fire Group will post 2.42 EPS for the current fiscal year.

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.