United Fire Group, Inc (UFCS) Posts Earnings Results, Misses Expectations By $0.87 EPS
United Fire Group, Inc (NASDAQ:UFCS) posted its quarterly earnings results on Wednesday. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.87), Bloomberg Earnings reports. The company had revenue of $269.55 million during the quarter. United Fire Group had a return on equity of 1.32% and a net margin of 1.49%.
Shares of United Fire Group (UFCS) traded up $0.01 on Friday, reaching $47.25. 33,044 shares of the company traded hands, compared to its average volume of 68,643. The company has a market capitalization of $1,168.01, a price-to-earnings ratio of 104.33 and a beta of 0.71. United Fire Group has a 52-week low of $38.97 and a 52-week high of $50.75.
United Fire Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 8th that allows the company to buyback 2,240,000 outstanding shares. This buyback authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
UFCS has been the subject of a number of research analyst reports. BidaskClub lowered shares of United Fire Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Sandler O’Neill raised shares of United Fire Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $47.00 in a research report on Friday, September 22nd.
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United Fire Group Company Profile
United Fire Group, Inc, formerly United Fire & Casualty Company, is engaged in the business of writing property and casualty insurance and life insurance and selling annuities. The Company operates in two segments: property and casualty insurance, and life insurance. The Company’s property and casualty insurance segment consists of commercial lines insurance, including surety bonds, personal lines insurance and assumed insurance.
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