United Fire Group (UFCS) Announces Quarterly Earnings Results, Beats Expectations By $0.38 EPS

United Fire Group (NASDAQ:UFCS) issued its earnings results on Wednesday, May 8th. The insurance provider reported $0.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.38, MarketWatch Earnings reports. United Fire Group had a net margin of 2.35% and a return on equity of 1.63%. The company had revenue of $332.25 million for the quarter.

Shares of UFCS stock opened at $46.94 on Friday. United Fire Group has a one year low of $40.86 and a one year high of $61.56. The stock has a market capitalization of $1.18 billion, a PE ratio of 81.31 and a beta of -0.03.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from United Fire Group’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.81%.

Several research analysts recently issued reports on the stock. BidaskClub downgraded shares of United Fire Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 4th. ValuEngine downgraded shares of United Fire Group from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, TheStreet downgraded shares of United Fire Group from a “b” rating to a “c+” rating in a research report on Thursday, February 21st.

In related news, VP David E. Conner sold 30,011 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $41.34, for a total transaction of $1,240,654.74. Following the completion of the sale, the vice president now directly owns 9,450 shares of the company’s stock, valued at approximately $390,663. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.66% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of UFCS. Founders Capital Management bought a new position in shares of United Fire Group during the 4th quarter worth approximately $39,000. Quantamental Technologies LLC bought a new position in shares of United Fire Group in the fourth quarter worth $50,000. Bank of Montreal Can increased its position in shares of United Fire Group by 56.0% in the first quarter. Bank of Montreal Can now owns 1,164 shares of the insurance provider’s stock worth $50,000 after purchasing an additional 418 shares during the period. Quadrant Capital Group LLC increased its position in shares of United Fire Group by 375.0% in the first quarter. Quadrant Capital Group LLC now owns 1,501 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 1,185 shares during the period. Finally, Assetmark Inc. increased its position in shares of United Fire Group by 488.8% in the first quarter. Assetmark Inc. now owns 2,408 shares of the insurance provider’s stock worth $105,000 after purchasing an additional 1,999 shares during the period. 62.25% of the stock is owned by institutional investors.

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United Fire Group Company Profile

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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Earnings History for United Fire Group (NASDAQ:UFCS)

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