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. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and fidelity and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners. The company sells its products through a network of independent agencies. United Fire Group, Inc. was founded in 1946 and is headquartered in Cedar Rapids, Iowa.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on UFCS. TheStreet downgraded United Fire Group from a "b-" rating to a "c" rating in a report on Thursday, May 5th. StockNews.com cut shares of United Fire Group from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. Finally, Piper Sandler raised shares of United Fire Group from a "neutral" rating to an "overweight" rating and set a $37.00 price objective on the stock in a research report on Friday, August 5th. They noted that the move was a valuation call.
United Fire Group Trading Up 2.1 %
Shares of NASDAQ:UFCS traded up $0.62 during mid-day trading on Friday, hitting $29.96. The company had a trading volume of 62,544 shares, compared to its average volume of 86,805. The firm has a 50-day simple moving average of $32.52 and a two-hundred day simple moving average of $30.14. The company has a market capitalization of $752.89 million, a PE ratio of 11.52 and a beta of 0.01. United Fire Group has a one year low of $19.85 and a one year high of $37.26.
United Fire Group Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.14%. This is an increase from United Fire Group's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, June 2nd. United Fire Group's dividend payout ratio (DPR) is currently 24.62%.