Q1 2021 EPS Estimates for United Fire Group, Inc. Cut by Piper Sandler (NASDAQ:UFCS)
United Fire Group, Inc. (NASDAQ:UFCS) – Investment analysts at Piper Sandler lowered their Q1 2021 EPS estimates for United Fire Group in a note issued to investors on Tuesday, April 6th. Piper Sandler analyst P. Newsome now expects that the insurance provider will earn ($0.02) per share for the quarter, down from their prior forecast of $0.39. Piper Sandler also issued estimates for United Fire Group’s FY2021 earnings at $0.04 EPS.
United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, February 16th. The insurance provider reported ($1.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.01. United Fire Group had a negative return on equity of 7.65% and a negative net margin of 12.08%. The company had revenue of $280.88 million during the quarter, compared to the consensus estimate of $267.50 million.
Shares of United Fire Group stock opened at $34.38 on Thursday. United Fire Group has a 12 month low of $18.83 and a 12 month high of $36.40. The business has a fifty day simple moving average of $33.32 and a 200 day simple moving average of $26.87. The stock has a market cap of $862.49 million, a PE ratio of -6.77 and a beta of 0.15.
Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its position in shares of United Fire Group by 394.8% during the fourth quarter. Meeder Asset Management Inc. now owns 1,153 shares of the insurance provider’s stock worth $29,000 after buying an additional 920 shares during the period. Vantage Consulting Group Inc acquired a new position in shares of United Fire Group during the fourth quarter worth about $41,000. Veriti Management LLC bought a new stake in United Fire Group during the fourth quarter worth about $42,000. First Bank & Trust raised its holdings in United Fire Group by 580.2% during the fourth quarter. First Bank & Trust now owns 1,755 shares of the insurance provider’s stock worth $44,000 after acquiring an additional 1,497 shares in the last quarter. Finally, Accel Wealth Management bought a new stake in United Fire Group in the fourth quarter valued at approximately $51,000. 60.02% of the stock is owned by institutional investors.
In other United Fire Group news, Director Scott L. Carlton sold 1,150 shares of the business’s stock in a transaction dated Monday, February 22nd. The stock was sold at an average price of $29.53, for a total value of $33,959.50. Following the completion of the transaction, the director now directly owns 88,298 shares of the company’s stock, valued at $2,607,439.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.89% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Friday, March 5th were paid a $0.15 dividend. The ex-dividend date was Thursday, March 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.75%. United Fire Group’s payout ratio is -55.56%.
About United Fire Group
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, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners.
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