United Fire Group
Writes commercial property-and-casualty insurance through independent agencies, with surety and reinsurance exposure.
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Profile
Sells mostly commercial property-and-casualty coverage through independent agencies, alongside surety, specialty programs, assumed reinsurance, and Lloyd's participation. Revenue comes mainly from earned insurance premiums, while the business is shaped by U.S. insurance regulation, catastrophe losses, and reinsurance markets.
Writes commercial property-and-casualty insurance for small business and middle-market customers, with lines including liability, commercial auto, property, workers' compensation, and surety. Core policies are distributed through independent agencies, while specialty and surplus business can move through managing general agents and wholesale brokers.
Operates from Cedar Rapids with premium spread across many U.S. states rather than one home market. The current portfolio is narrower than its historical mix after the life insurance sale and exit from direct personal lines, with assumed reinsurance and Lloyd's syndicate participation adding another source of exposure.
Underwriting consistency, agency relationships, claims handling, and financial strength shape competition with regional and national carriers. Results remain tied to state insurance regulation, catastrophe losses, policy pricing, reinsurance availability, and loss trends in commercial casualty lines.
Company facts
Key statistics
Year to date +51.7% · Average volume (30d) 141.1K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 5, 2026 | Piper Sandler | Reiterate | Overweight | $57 | $60 | |
| May 7, 2026 | Piper Sandler | Reiterate | Overweight | $45 | $57 | |
| May 6, 2026 | Piper Sandler | Upgrade | Neutral | Overweight | $41 | $45 |
| Feb 12, 2026 | Piper Sandler | Reiterate | Neutral | $37 | $41 | |
| Dec 22, 2025 | Piper Sandler | Reiterate | Neutral | $26 | $37 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q2 FY26 | $0.69 | $1.30 | +87.6% | $347.8M | $354.1M | +1.8% | +3.01% |
| May 5, 2026Q1 FY26 | $0.87 | $1.16 | +33.3% | $340.2M | $343.0M | +0.8% | +7.93% |
| Feb 10, 2026Q4 FY25 | $0.90 | $1.50 | +66.7% | $306.0M | $341.1M | +11.5% | +7.17% |
| Nov 4, 2025Q3 FY25 | $0.69 | $1.50 | +117.4% | $332.3M | $354.0M | +6.5% | +14.69% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $331.1M | $336.6M | $354.0M | $365.8M | $369.4M | $383.7M | |
| Gross profit | $64.1M | $68.4M | $84.3M | $173.0M | $161.3M | $383.7M | |
| Operating income | $21.9M | $29.2M | $48.7M | $48.2M | $38.0M | $41.9M | |
| Net income | $17.7M | $22.9M | $39.2M | $38.4M | $30.1M | $33.4M | |
| Diluted EPS | $0.67 | $0.87 | $1.49 | $1.45 | $1.15 | $1.29 | |
| Gross margin | 19.3% | 20.3% | 23.8% | 47.3% | 43.7% | 100.0% | |
| Operating margin | 6.6% | 8.7% | 13.7% | 13.2% | 10.3% | 10.9% |
Fiscal years (4-quarter sums)FY21 $1.06B · FY22 $988.2M · FY23 $1.10B · FY24 $1.25B · FY25 $1.39B
Balance sheet, Jun 30, 2026Cash & short-term investments $139.4M · Total debt $146.4M · Total assets $4.01B · Shareholders' equity $977.3M
Dividends
Raised for 4 straight years — most recently to $0.20 from $0.16 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 5, 2026 | Jun 5 | Jun 19 | $0.20 | |
| Feb 24, 2026 | Feb 24 | Mar 10 | $0.20 | raised from $0.16 |
| Dec 5, 2025 | Dec 5 | Dec 19 | $0.16 | |
| Aug 29, 2025 | Aug 29 | Sep 12 | $0.16 | |
| Jun 6, 2025 | Jun 6 | Jun 20 | $0.16 | |
| Mar 7, 2025 | Mar 7 | Mar 21 | $0.16 | |
| Nov 29, 2024 | Nov 29 | Dec 13 | $0.16 | |
| Aug 30, 2024 | Aug 30 | Sep 13 | $0.16 |
Ownership
Shares outstanding 25.66M · Float 22.18M · 86.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 3.49M | 13.61% | 13F | Aug 7, 2026 |
| Dimensional Fund Advisors LP | 1.51M | 5.87% | 13F | Aug 11, 2026 |
| Vanguard Capital Management LLC | 965.3K | 3.76% | 13F | Aug 13, 2026 |
| State Street Corp | 860.6K | 3.35% | 13F | Aug 7, 2026 |
| American Century Companies Inc | 721.2K | 2.81% | 13F | Aug 12, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 5, 2026 | George D. Milligan | director | +4,500 | $45.23 |
| Mar 4, 2026 | Christopher R. Drahozal | director | −4,250 | $38.49 |
| Mar 3, 2026 | Christopher R. Drahozal | director | −4,250 | $37.94 |
| Mar 2, 2026 | Christopher R. Drahozal | director | −4,250 | $38.84 |
| Mar 4, 2025 | Dee Ann McIntyre | 10 percent owner | −4,250 | $38.49 |
Peers
- Selective Insurance Group
Agency-based commercial P&C peer with E&S overlap
- Cincinnati Financial
Agency-centric multiline P&C rival in commercial and surety
- The Hanover Insurance Group
Independent-agent carrier spanning core commercial and specialty
- C.N.A. Financial
Large commercial P&C competitor in middle-market and specialty
- W. R. Berkley
Specialty commercial and reinsurance writer with national scale
- Travelers
National commercial, workers-comp, and surety carrier
- RLI
Specialty P&C and surety rival in niche admitted and E&S markets
- Donegal Group
Regional agency-carrier peer in commercial auto, CMP, and workers comp
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| United Fire Group | $53.98 | 0.00% | $1.38B | 10.0 | 12.0 | 0.9 | +5.2% |
| Selective Insurance Group | $92.46 | −0.08% | $5.51B | 11.5 | 10.9 | 1.0 | −8.0% |
| Cincinnati Financial | $171.97 | 0.00% | $26.39B | 8.1 | 19.6 | 1.9 | −18.9% |
| The Hanover Insurance Group | $227.67 | −0.02% | $7.93B | 10.9 | 12.0 | 1.2 | +0.4% |
| C.N.A. Financial | $49.31 | +0.02% | $13.34B | 10.8 | 10.6 | 0.9 | +3.0% |
| W. R. Berkley | $70.65 | +3.20% | $25.48B | 14.1 | 14.5 | 1.4 | +1.2% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| RLI | $64.31 | +0.03% | $5.90B | 13.5 | 23.8 | 3.0 | +16.0% |
| Donegal Group | $19.24 | +0.10% | $708.9M | 9.7 | 10.2 | 0.7 | −8.4% |
| Median | 10.9 | 12.2 | 1.3 | −2.2% |