Stock Analysis Report

Executive Summary

United Fire Group, Inc., together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States.

Snowflake Analysis

Proven track record second-rate dividend payer.

Similar Companies

Share Price & News

How has United Fire Group's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: UFCS has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




US Insurance


US Market

1 Year Return




US Insurance


US Market

Return vs Industry: UFCS underperformed the US Insurance industry which returned 16.3% over the past year.

Return vs Market: UFCS underperformed the US Market which returned 17.9% over the past year.

Shareholder returns

7 Day0.1%-1.5%-1.1%
30 Day-0.04%3.0%1.4%
90 Day2.2%5.2%6.9%
1 Year-3.9%-6.5%19.1%16.3%20.3%17.9%
3 Year20.4%6.0%34.4%24.0%47.8%38.3%
5 Year84.7%55.9%72.0%51.3%71.9%53.0%

Price Volatility Vs. Market

How volatile is United Fire Group's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is United Fire Group undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: UFCS ($44.96) is trading above our estimate of fair value ($23.31)

Significantly Below Fair Value: UFCS is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: UFCS is poor value based on its PE Ratio (77.6x) compared to the Insurance industry average (13.4x).

PE vs Market: UFCS is poor value based on its PE Ratio (77.6x) compared to the US market (18.2x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate UFCS's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: UFCS is overvalued based on its PB Ratio (1.2x) compared to the US Insurance industry average (1.1x).

Next Steps

Future Growth

How is United Fire Group forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?


Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if UFCS's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if UFCS's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: UFCS's revenue is expected to decline over the next 3 years (-2.2% per year).

High Growth Revenue: UFCS's revenue is forecast to decline over the next 3 years (-2.2% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: UFCS's Return on Equity is forecast to be low in 3 years time (1.6%).

Next Steps

Past Performance

How has United Fire Group performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: UFCS has high quality earnings.

Growing Profit Margin: UFCS's current net profit margins (1.2%) are higher than last year (0.2%).

Past Earnings Growth Analysis

Earnings Trend: UFCS's earnings have declined by -27.5% per year over the past 5 years.

Accelerating Growth: UFCS's earnings growth over the past year (557.2%) exceeds its 5-year average (-27.5% per year).

Earnings vs Industry: UFCS earnings growth over the past year (557.2%) exceeded the Insurance industry 32.1%.

Return on Equity

High ROE: UFCS's Return on Equity (1.6%) is considered low.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is United Fire Group's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Inventory Level: UFCS has a low level of unsold assets or inventory.

Debt Coverage by Assets: UFCS's debt is not covered by short term assets (assets are -6.9x debt).

Financial Institutions Analysis

Asset Level: UFCS's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if UFCS has a sufficient allowance for bad loans.

Low Risk Liabilities: UFCS reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if UFCS has an acceptable proportion of non-loan assets held.

Low Risk Deposits: UFCS has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if UFCS has an appropriate level of bad loans.

Next Steps


What is United Fire Group's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Notable Dividend: UFCS's dividend (2.94%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: UFCS's dividend (2.94%) is low compared to the top 25% of dividend payers in the US market (3.73%).

Stability and Growth of Payments

Stable Dividend: UFCS's dividends per share have been stable in the past 10 years.

Growing Dividend: UFCS's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (224.4%), UFCS's dividend payments are not well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: UFCS's dividends in 3 years are not forecast to be well covered by earnings (240.4% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Randy Ramlo (58yo)





Mr. Randy Allan Ramlo serves as President and Chief Executive Officer of United Fire & Casualty Company. Mr. Ramlo has served as President and Chief Executive Officer of United Fire Group, Inc. since May 2 ...

CEO Compensation Analysis

Compensation vs Market: Randy's total compensation ($USD3.13M) is about average for companies of similar size in the US market ($USD2.51M).

Compensation vs Earnings: Randy's compensation has been consistent with company performance over the past year.

Leadership Team

Randy Ramlo
President12.8yrsUS$3.13m0.13% $1.5m
Dawn Jaffray
EVP & CFO4.8yrsUS$1.25m0.0047% $52.9k
Michael Wilkins
Executive VP & COO5.8yrsUS$1.59m0.15% $1.7m
Barrie Ernst
VP & Chief Investment Officer18.1yrsUS$1.16m0.063% $704.9k
Neal Scharmer
VP, General Counsel & Corporate Secretary18.8yrsUS$879.51k0.042% $477.5k
Brian Frese
CTO & VP4.3yrsno datano data
Randy Patten
Assistant VP & Controller4.2yrsno datano data
Michael Sheeley
Vice President of Corporate Marketing1.8yrsno datano data
Tracy Bastian
Vice President of Human Resources2.8yrsno datano data
Jolene Grow
Assistant VP & Underwriting Manager8.8yrsno datano data


Average Tenure


Average Age

Experienced Management: UFCS's management team is seasoned and experienced (5.3 years average tenure).

Board Members

Randy Ramlo
President12.8yrsUS$3.13m0.13% $1.5m
James Noyce
Vice Chairman of the Board5.1yrsUS$186.23k0.058% $649.9k
Christopher Drahozal
Independent Director23.1yrsUS$148.48k1.66% $18.7m
George Milligan
Independent Director21.1yrsUS$140.48k0.15% $1.7m
Mary Quass
Independent Director22.1yrsUS$148.36k0.072% $813.0k
Jack Evans
Chairman10.3yrsUS$190.48k0.23% $2.6m
Kyle Skogman
Independent Director20.1yrsUS$152.48k0.14% $1.5m
John-Paul Besong
Independent Director7yrsUS$131.48k0.040% $451.6k
Susan Voss
Independent Director6yrsUS$134.48k0.032% $365.4k
Scott Carlton
Independent Director7.8yrsUS$140.48k0.50% $5.7m


Average Tenure


Average Age

Experienced Board: UFCS's board of directors are seasoned and experienced ( 11.2 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.3%.

Top Shareholders

Company Information

United Fire Group, Inc.'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: United Fire Group, Inc.
  • Ticker: UFCS
  • Exchange: NasdaqGS
  • Founded: 1946
  • Industry: Property and Casualty Insurance
  • Sector: Insurance
  • Market Cap: US$1.125b
  • Shares outstanding: 25.03m
  • Website:

Number of Employees


  • United Fire Group, Inc.
  • 118 Second Avenue SE
  • Cedar Rapids
  • Iowa
  • 52401
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UFCSNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1980


United Fire Group, Inc., together with its subsidiaries, provides property and casualty insurance for individuals and businesses in the United States. The company offers commercial and personal lines of property and casualty insurance, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers’ compensation, and surety coverage; and personal lines comprise automobile, and fire and allied lines coverage, including homeowners. The company sells its products through a network of independent agencies. United Fire Group, Inc. was founded in 1946 and is headquartered in Cedar Rapids, Iowa. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 23:54
End of Day Share Price2020/02/21 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.