United Fire Group, Inc (NASDAQ:UFCS) Declares $0.20 Quarterly Dividend

United Fire Group, Inc (NASDAQ:UFCS) announced a quarterly dividend on Wednesday, May 20th. Investors of record on Friday, June 5th will be given a dividend of 0.20 per share by the insurance provider on Friday, June 19th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, June 5th.

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 payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect United Fire Group to earn $4.95 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 16.2%.

United Fire Group Stock Down 0.6%

NASDAQ UFCS opened at $48.04 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.34 and a current ratio of 0.34. The firm has a 50-day simple moving average of $40.44 and a 200 day simple moving average of $37.87. United Fire Group has a twelve month low of $25.79 and a twelve month high of $49.94. The stock has a market cap of $1.23 billion, a PE ratio of 9.69 and a beta of 0.50.

United Fire Group (NASDAQ:UFCS) last released its earnings results on Tuesday, May 5th. The insurance provider reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.29. United Fire Group had a net margin of 9.16% and a return on equity of 14.65%. The business had revenue of $369.44 million during the quarter, compared to analysts’ expectations of $340.16 million. On average, research analysts forecast that United Fire Group will post 4.88 EPS for the current year.

Insider Activity

In related news, major shareholder Dee Ann Mcintyre sold 4,250 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $38.84, for a total value of $165,070.00. Following the completion of the transaction, the insider owned 437,613 shares of the company’s stock, valued at $16,996,888.92. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher R. Drahozal sold 4,250 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $38.49, for a total transaction of $163,582.50. Following the completion of the transaction, the director directly owned 429,113 shares of the company’s stock, valued at $16,516,559.37. This trade represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,750 shares of company stock valued at $493,723 in the last three months. Company insiders own 6.06% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UFCS. 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 worth $25,000 after purchasing an additional 387 shares in the last quarter. Basepoint Wealth LLC acquired a new stake in shares of United Fire Group during the fourth quarter worth approximately $26,000. Federated Hermes Inc. increased 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 buying an additional 622 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of United Fire Group by 812.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,570 shares of the insurance provider’s stock worth $45,000 after buying an additional 1,398 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of United Fire Group during the fourth quarter worth approximately $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.