United Fire Group, Inc. (NASDAQ: UFCS) announced a quarterly dividend of **$0.16** per share on **November 21, 2023**. Shareholders on record as of **December 5, 2023**, will receive this dividend on **December 19, 2023**. The dividend represents an annualized yield of **1.8%**. The ex-dividend date for this payment is also set for **December 5**.
Over the past three years, United Fire Group has reduced its dividend payment by an average of **0.1%** annually. Currently, the company maintains a dividend payout ratio of **23.4%**, indicating that its dividend payments are well-supported by earnings. Analysts project that United Fire Group will earn **$2.65** per share next year, suggesting a future payout ratio of **24.2%**. This outlook implies that the company should be able to sustain its **$0.64** annual dividend comfortably.
Stock Performance and Market Reactions
During mid-day trading on **November 21, 2023**, shares of United Fire Group declined by **1.0%**, dropping **$0.38** to reach **$35.96**. The trading volume was **42,826** shares, significantly lower than the average volume of **123,728** shares. The stock’s current debt-to-equity ratio stands at **0.16**, with a current ratio and quick ratio both at **0.37**.
The stock has shown a **50-day moving average** of **$33.01** and a **200-day moving average** of **$30.43**. Over the last year, shares have fluctuated between a low of **$24.11** and a high of **$37.84**. United Fire Group boasts a market capitalization of **$917.34 million** and a price-to-earnings (P/E) ratio of **8.48**, with a beta of **0.47**.
Analyst Ratings and Future Outlook
Recent analyst reports have offered mixed insights regarding United Fire Group’s stock. **Wall Street Zen** upgraded its rating from “hold” to “buy” on **November 16, 2023**. Additionally, **Weiss Ratings** reaffirmed a “buy (B-)” rating for the company. On **November 12, 2023**, **Jones Trading** raised its price target for United Fire Group from **$33.00** to **$38.00**, while maintaining a “buy” rating.
Conversely, **Zacks Research** downgraded the company from a “strong-buy” rating to a “hold” rating on **November 3, 2023**. Currently, two analysts have rated the stock as a “buy,” while two others have assigned a “hold” rating. According to data from **MarketBeat**, United Fire Group holds a consensus rating of “Moderate Buy” with a target price of **$33.00**.
United Fire Group, Inc. offers property and casualty insurance through its subsidiaries, catering to both individual and business clients across the United States. The company’s range of services includes commercial and personal lines of insurance, as well as reinsurance coverage. Its commercial offerings encompass fire and allied lines, liability, automobile, workers’ compensation, and fidelity and surety coverage, while personal lines include automobile insurance and homeowners coverage.
As investors await the upcoming dividend payments and assess the latest market reports, United Fire Group remains a notable entity within the insurance sector.
