United Fire Group (UFCS) came out with quarterly earnings of $1.25 per share, beating the Zacks Consensus Estimate of $0.66 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 89.39%. A quarter ago, it was expected that this property and casualty insurance company would post earnings of $0.21 per share when it actually produced earnings of $0.81, delivering a surprise of 285.71%.Over t ...

Financial Performance - Fourth quarter net income increased to $31.4 million, or $1.21 per diluted share, compared to $19.6 million, or $0.77 per diluted share in the same quarter of 2023[1][13] - Full year net written premiums reached $1.2 billion, a 15% increase from $1.06 billion in 2023, marking the highest level in the company's history[3][5] - The combined ratio for the fourth quarter improved to 94.4%, a 4.8-point decrease from 99.2% in the previous year, while the full year combined ratio improved by 10.1 points to 99.2%[6][18] - The company reported a return on equity of 8.2% for the full year, a significant improvement from a loss of 4.0% in 2023[14] - Net income for Q4 2024 was $31,442,000, compared to $19,608,000 in Q4 2023, representing a 60.5% increase[34] - Adjusted operating income for the twelve months ended December 31, 2024, was $66,246,000, significantly improved from a loss of $30,706,000 in 2023[34] Investment Income - Net investment income for the fourth quarter was $23.2 million, a 21.2% increase from $19.1 million in the same quarter of 2023, and for the full year, it rose to $82.0 million, up 37.5% from $59.6 million[8][20] - Total investment income for Q4 2024 was $25,719,000, an increase of 20.6% from $21,448,000 in Q4 2023[21] - Net investment income for the twelve months ended December 31, 2024, was $81,987,000, up 37.5% from $59,606,000 in 2023[21] - Average yields on fixed income securities pre-tax improved to 4.15% in Q4 2024 from 3.39% in Q4 2023[21] Premiums and Underwriting - Average renewal premiums increased by 11.9% in the fourth quarter, contributing to the growth in net written premiums[15] - Net earned premiums for Q4 2024 reached $308,137, an increase of 16.5% from $264,366 in Q4 2023[41] - The company’s net written premiums for commercial lines totaled $225,712 in Q4 2024, an increase of 11.9% from $201,652 in Q4 2023[45] - The underlying loss ratio improved to 55.7% for the fourth quarter and 57.9% for the full year, reflecting better underwriting discipline and favorable claim frequency[6][18] - The net loss ratio for total commercial lines improved to 54.5% in Q4 2024 from 65.7% in Q4 2023[46] Assets and Equity - Invested assets increased to $2,093,094,000 as of December 31, 2024, up from $1,886,494,000 in 2023, reflecting a growth of 11%[22] - Total assets reached $3,488,469,000, an increase of 10.9% from $3,144,190,000 in the previous year[22] - Total stockholders' equity rose to $781,531,000, up from $733,745,000, marking a 6.5% increase[22] - Book value per share increased by $1.76 to $30.80 as of December 31, 2024, compared to the previous year[4] - Book value per share increased to $30.80, a rise of $1.76 per share or 6.1% from $29.04 as of December 31, 2023[23] Dividends and Expenses - The company declared a cash dividend of $0.16 per share during Q4 2024, continuing a quarterly dividend since March 1968[24] - Total benefits, losses, and expenses for the twelve months ended December 31, 2024, were $1,176,273, compared to $1,135,188 in 2023, reflecting a rise of 3.6%[41] - The company’s federal income tax expense for the twelve months ended December 31, 2024, was $15,077, compared to a benefit of $(10,021) in 2023[41] - The loss settlement expenses for Q4 2024 were $176,486, slightly up from $171,289 in Q4 2023[41] Future Outlook - The company plans to implement a new policy administration system in 2025, which is expected to enhance operational efficiency[7] - The estimated losses from the recent wildfires in Southern California are projected to be between $7 million and $10 million[12]

Fourth quarter net income of $1.21 per diluted share and adjusted operating income of $1.25 per diluted share; full year net income of $2.39 per diluted share and adjusted operating income of $2.56 per diluted share Fourth quarter 2024 highlights compared to fourth quarter 2023:(1) Net income increased from $19.6 million to $31.4 million.Net investment income increased 21.2% to $23.2 million.Combined ratio improved 4.8 points to 94.4%; composed of an underlying loss ratio of 55.7%, catastrophe loss ratio of ...

CEDAR RAPIDS, Iowa, Jan. 29, 2025 (GLOBE NEWSWIRE) -- United Fire Group, Inc. (Nasdaq: UFCS) (the "Company", "UFG", "we", or "our") announced today that its 2024 fourth quarter earnings results will be released after the market closes on Tuesday, February 11, 2025. An earnings call will be held on Wednesday, February 12, 2025 at 9:00 a.m. central time to allow securities analysts, shareholders and other interested parties the opportunity to hear management discuss the Company's 2024 fourth quarter results. ...

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While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use tried-and-true metrics and fundamental analysis to find companies that they beli ...

After reaching an important support level, United Fire Group, Inc (UFCS) could be a good stock pick from a technical perspective. UFCS recently experienced a "golden cross" event, which saw its 50-day simple moving average breaking out above its 200-day simple moving average.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common m ...

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Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the ...

United Fire Group, Inc. (NASDAQ:UFCS) Q3 2024 Earnings Conference Call November 6, 2024 10:00 AM ET Company Participants Tim Borst - Vice President of Investor Relations Kevin Leidwinger - President and Chief Executive Officer Julie Stephenson - Executive Vice President and Chief Operating Officer Eric Martin - Executive Vice President and Chief Financial Officer Conference Call Participants Paul Newsome - Piper Sandler Operator Good day, and welcome to the United Fire Group Insurance 2024 Third Quarter Con ...