United Fire Group: Two Steps Forward, One Step Back [Seeking Alpha]
United Fire Group, Inc (UFCS)
US:NASDAQ Investor Relations:
ir.ufginsurance.com
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Source: Seeking Alpha
Anton Skripachev/iStock Editorial via Getty ImagesI recently wrote a positivearticleNASDAQ:UFCSsignificantly higher.Unfortunately, the recently announced Q2/2022 results were not what I had hoped for. After two straight quarters of sub 90% Combined Ratio, the Combined Ratio climbed back above 100% in Q2. Furthermore, investment losses led to a net loss for the quarter. With YTD ROE now only 4.3%, I believe the re-rate potential has been pushed out, pending more fundamental improvements.Quarter Was Soft But Not A DisasterFor the recentlyannounced quarterFigure 1 - UFCS Consolidated financial results (UFCS Q2/2022 earnings presentation)If we look at the quarterly results in detail, it was definitely a step in the wrong direction, but not the total disaster as indicated by the 1-day stock reaction of -21.6%.Poor Results Driven By Investment LossesWhen I wrote my previous article, I highlighted a key investment risk being the YTD performance of equity and fixed income markets, and how man
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UFCS
News
- United Fire Group Insiders Added US$548.6k Of Stock To Their Holdings [Yahoo! Finance]Yahoo! Finance
- United Fire Group: Underwriting Results On An Upswing [Seeking Alpha]Seeking Alpha
- United Fire Group, Inc. Announces Its 2024 First Quarter Earnings CallGlobeNewswire
- Should Value Investors Buy United Fire Group (UFCS) Stock? [Yahoo! Finance]Yahoo! Finance
- United Fire Group, Inc. (NASDAQ: UFCS) had its "underweight" rating re-affirmed by analysts at Piper Sandler. They now have a $21.00 price target on the stock.MarketBeat
UFCS
Earnings
- 2/13/24 - Beat
UFCS
Sec Filings
- 4/19/24 - Form 4
- 4/19/24 - Form 8-K
- 4/2/24 - Form ARS
- UFCS's page on the SEC website