United Fire Group, Inc (UFCS) to Distribute Quarterly Dividend of $0.20 on September 18th

United Fire Group, Inc (NASDAQ:UFCS) declared a quarterly dividend on Friday, August 21st. Investors of record on Friday, September 4th will be paid a dividend of 0.20 per share by the insurance provider on Friday, September 18th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, September 4th.

United Fire Group has decreased its dividend payment by an average of 0.1%annually over the last three years. United Fire Group has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Fire Group to earn $5.03 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 15.9%.

United Fire Group Stock Up 0.5%

UFCS stock opened at $54.15 on Wednesday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $52.60 and a two-hundred day moving average price of $45.53. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 10.07 and a beta of 0.52. United Fire Group has a twelve month low of $29.74 and a twelve month high of $55.82.

United Fire Group (NASDAQ:UFCS) last announced its quarterly earnings data on Monday, August 3rd. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.61. The company had revenue of $383.73 million for the quarter, compared to analysts’ expectations of $347.76 million. United Fire Group had a return on equity of 15.19% and a net margin of 9.57%. Analysts anticipate that United Fire Group will post 4.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Zacks Research downgraded shares of United Fire Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Piper Sandler upped their target price on shares of United Fire Group from $57.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. JonesTrading raised their target price on shares of United Fire Group from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings raised United Fire Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 19th. Finally, Wall Street Zen cut United Fire Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $52.50.

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.