United Fire Group, Inc. (NASDAQ:UFCS) to Issue Quarterly Dividend of $0.16

United Fire Group, Inc. (NASDAQ:UFCS) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.16 per share by the insurance provider on Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, November 29th.

United Fire Group has decreased its dividend payment by an average of 17.5% per year over the last three years. United Fire Group has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Analysts expect United Fire Group to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 29.1%.

United Fire Group Stock Up 0.2 %

Shares of NASDAQ UFCS opened at $30.08 on Thursday. The business’s 50 day moving average is $22.35 and its two-hundred day moving average is $21.58. The company has a market cap of $762.23 million, a P/E ratio of 15.51 and a beta of 0.37. United Fire Group has a 12 month low of $18.04 and a 12 month high of $31.14.

United Fire Group (NASDAQ:UFCS) last issued its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.21 by $0.60. The company had revenue of $322.96 million for the quarter, compared to the consensus estimate of $306.80 million. United Fire Group had a return on equity of 6.75% and a net margin of 4.15%. During the same period in the previous year, the business posted $0.31 EPS. Sell-side analysts expect that United Fire Group will post 1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

UFCS has been the topic of a number of research reports. Piper Sandler upgraded United Fire Group from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $19.00 to $26.00 in a research report on Monday, November 18th. StockNews.com upgraded United Fire Group from a “hold” rating to a “buy” rating in a research report on Friday, October 4th.

About United Fire Group

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; and reinsurance coverage for property and casualty insurance. Its commercial lines include fire and allied lines, other liability, automobile, workers’ compensation, fidelity and surety coverage, and other insurance products; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners, as well as provides assumed reinsurance products.