Fintel reports that on October 6, 2023, Piper Sandler maintained coverage of United Fire Group (NASDAQ:UFCS) with a Underweight recommendation.
Analyst Price Forecast Suggests 0.26% Downside
As of October 5, 2023, the average one-year price target for United Fire Group is 19.38. The forecasts range from a low of 19.19 to a high of $19.95. The average price target represents a decrease of 0.26% from its latest reported closing price of 19.43.
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The projected annual revenue for United Fire Group is 1,041MM, a decrease of 0.85%. The projected annual non-GAAP EPS is 2.07.
United Fire Group Declares $0.16 Dividend
On August 18, 2023 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of September 1, 2023 received the payment on September 15, 2023. Previously, the company paid $0.16 per share.
At the current share price of $19.43 / share, the stock's dividend yield is 3.29%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.95%, the lowest has been 1.71%, and the highest has been 6.45%. The standard deviation of yields is 1.10 (n=236).
The current dividend yield is 0.31 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.28. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.52%.
What is the Fund Sentiment?
There are 340 funds or institutions reporting positions in United Fire Group. This is a decrease of 16 owner(s) or 4.49% in the last quarter. Average portfolio weight of all funds dedicated to UFCS is 0.03%, a decrease of 26.85%. Total shares owned by institutions decreased in the last three months by 5.52% to 17,610K shares. 
The put/call ratio of UFCS is 19.50, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,514K shares representing 5.99% ownership of the company. In it's prior filing, the firm reported owning 1,609K shares, representing a decrease of 6.32%. The firm decreased its portfolio allocation in UFCS by 22.26% over the last quarter.
Earnest Partners holds 1,386K shares representing 5.48% ownership of the company. In it's prior filing, the firm reported owning 1,656K shares, representing a decrease of 19.52%. The firm decreased its portfolio allocation in UFCS by 30.99% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 715K shares representing 2.83% ownership of the company. No change in the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 619K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 625K shares, representing a decrease of 0.92%. The firm decreased its portfolio allocation in UFCS by 19.54% over the last quarter.
Bank Of America holds 483K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 490K shares, representing a decrease of 1.41%. The firm decreased its portfolio allocation in UFCS by 14.11% over the last quarter.
United Fire Group Background Information
(This description is provided by the company.)
Founded in 1946 as United Fire & Casualty Company, United Fire Group, Inc., through its insurance company subsidiaries, is engaged in the business of writing property and casualty insurance. Through its subsidiaries, the Company is licensed as a property and casualty insurer in 49 states, plus the District of Columbia, and it's represented by approximately 1,000 independent agencies. A.M. Best Company assigns a rating of 'A' (Excellent) for members of the United Fire & Casualty Group.
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