United Fire Group (NASDAQ:UFCS) Issues Earnings Results

United Fire Group (NASDAQ:UFCS) posted its quarterly earnings data on Tuesday. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.60, Zacks reports. United Fire Group had a net margin of 8.22% and a return on equity of 13.64%.

United Fire Group Price Performance

Shares of UFCS traded up $0.07 during trading hours on Tuesday, reaching $36.13. 109,968 shares of the stock traded hands, compared to its average volume of 107,369. The company has a market cap of $921.68 million, a P/E ratio of 8.52 and a beta of 0.46. United Fire Group has a 52-week low of $24.57 and a 52-week high of $38.10. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $36.04 and its two-hundred day moving average price is $33.18.

United Fire Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, December 5th. United Fire Group’s dividend payout ratio is presently 15.09%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UFCS. Invesco Ltd. grew its holdings in shares of United Fire Group by 108.8% in the second quarter. Invesco Ltd. now owns 347,008 shares of the insurance provider’s stock worth $9,959,000 after purchasing an additional 180,836 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of United Fire Group by 59.5% in the 2nd quarter. AQR Capital Management LLC now owns 301,076 shares of the insurance provider’s stock valued at $8,641,000 after acquiring an additional 112,318 shares during the period. UBS Group AG raised its position in shares of United Fire Group by 79.4% in the 3rd quarter. UBS Group AG now owns 211,339 shares of the insurance provider’s stock worth $6,429,000 after acquiring an additional 93,525 shares in the last quarter. First Trust Advisors LP bought a new position in shares of United Fire Group in the 3rd quarter worth $2,080,000. Finally, Man Group plc lifted its position in shares of United Fire Group by 148.5% during the second quarter. Man Group plc now owns 77,217 shares of the insurance provider’s stock valued at $2,216,000 after buying an additional 46,141 shares during the last quarter. Institutional investors own 62.68% of the company’s stock.

Analyst Upgrades and Downgrades

UFCS has been the subject of a number of recent analyst reports. Jones Trading lifted their target price on United Fire Group from $33.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Wall Street Zen cut United Fire Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Piper Sandler increased their price target on shares of United Fire Group from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, December 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of United Fire Group in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, United Fire Group currently has a consensus rating of “Moderate Buy” and an average target price of $37.50.

About United Fire Group

United Fire Group, Inc (NASDAQ: UFCS) is an insurance holding company based in Cedar Rapids, Iowa, that specializes in property and casualty coverage for commercial and personal lines. The company underwrites business through three primary segments: commercial, personal and specialty insurance. Within the commercial segment, United Fire Group offers tailored policies for small- and medium-sized enterprises, including general liability, commercial property and workers’ compensation. Its personal lines cover homeowners, auto, farm and umbrella policies.

United Fire Group distributes its products primarily through a national network of independent insurance agents and brokers.