United Fire Group, Inc (UFCS) to Issue Quarterly Dividend of $0.20 on March 10th

United Fire Group, Inc (NASDAQ:UFCS) announced a quarterly dividend on Monday, February 9th. Shareholders of record on Tuesday, February 24th will be given a dividend of 0.20 per share by the insurance provider on Tuesday, March 10th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, February 24th. This is a 25.0% increase from United Fire Group’s previous quarterly dividend of $0.16.

United Fire Group has decreased its dividend payment by an average of 0.1%per year over the last three years. United Fire Group has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect United Fire Group to earn $2.65 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 30.2%.

United Fire Group Stock Performance

Shares of United Fire Group stock opened at $38.53 on Friday. The firm has a market cap of $982.90 million, a PE ratio of 8.60 and a beta of 0.46. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.16. United Fire Group has a 52 week low of $25.01 and a 52 week high of $40.63. The business’s fifty day simple moving average is $36.56 and its 200-day simple moving average is $33.89.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.60. The firm had revenue of $365.81 million for the quarter, compared to analyst estimates of $332.34 million. United Fire Group had a net margin of 8.52% and a return on equity of 14.19%. Equities analysts forecast that United Fire Group will post 2.42 earnings per share for the current year.

Hedge Funds Weigh In On United Fire Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its position in United Fire Group by 129.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 686 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 387 shares during the period. Basepoint Wealth LLC acquired a new position in shares of United Fire Group in the 4th quarter worth approximately $26,000. Federated Hermes Inc. raised its holdings in shares of United Fire Group by 109.5% during the fourth quarter. Federated Hermes Inc. now owns 1,190 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 622 shares during the period. EverSource Wealth Advisors LLC boosted its stake in United Fire Group by 812.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 1,398 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in United Fire Group in the fourth quarter worth $48,000. Institutional investors and hedge funds own 62.68% of the company’s stock.

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.