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) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, August 29th.

United Fire Group has a dividend payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. 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 Trading Up 2.0%

Shares of NASDAQ UFCS traded up $0.60 during mid-day trading on Wednesday, hitting $31.16. The company's stock had a trading volume of 117,012 shares, compared to its average volume of 140,205. The stock has a market cap of $794.33 million, a price-to-earnings ratio of 8.88 and a beta of 0.53. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.37 and a quick ratio of 0.37. United Fire Group has a one year low of $19.19 and a one year high of $31.70. The company's fifty day simple moving average is $28.23 and its 200-day simple moving average is $27.83.

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