Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

United Fire Group, Inc. (UFCS)

Company Dividend Discount ModelIndustry: Insurance - Property & CasualtySector: Financial Services

Valuation Snapshot

Stable Growth$32.71 - $47.94$40.04
Multi-Stage$49.50 - $54.39$51.90
Blended Fair Value$45.97
Current Price$30.42
Upside51.11%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS-13.07%-1.92%0.620.620.600.571.091.244.021.040.940.83
YoY Growth--0.30%1.92%5.28%-47.19%-12.66%-69.01%285.59%11.17%13.54%10.05%
Dividend Yield--2.10%2.82%2.28%1.85%3.12%3.82%9.18%2.18%2.19%1.88%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)111.28
(-) Cash Dividends Paid (M)16.28
(=) Cash Retained (M)95.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)22.2613.918.35
Cash Retained (M)95.0095.0095.00
(-) Cash Required (M)-22.26-13.91-8.35
(=) Excess Retained (M)72.7481.0986.65
(/) Shares Outstanding (M)26.2526.2526.25
(=) Excess Retained per Share2.773.093.30
LTM Dividend per Share0.620.620.62
(+) Excess Retained per Share2.773.093.30
(=) Adjusted Dividend3.393.713.92
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-1.15%-0.15%0.85%
Fair Value$32.71$40.04$47.94
Upside / Downside7.52%31.63%57.58%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)111.28111.11110.94110.78110.61110.44113.75
Payout Ratio14.63%29.70%44.78%59.85%74.93%90.00%92.50%
Projected Dividends (M)16.2833.0149.6866.3082.8799.40105.22

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-1.15%-0.15%0.85%
Year 1 PV (M)29.9530.2530.56
Year 2 PV (M)40.9141.7442.58
Year 3 PV (M)49.5451.0652.61
Year 4 PV (M)56.1958.5060.88
Year 5 PV (M)61.1564.3167.60
PV of Terminal Value (M)1,061.651,116.451,173.48
Equity Value (M)1,299.391,362.311,427.70
Shares Outstanding (M)26.2526.2526.25
Fair Value$49.50$51.90$54.39
Upside / Downside62.72%70.60%78.79%

High-Yield Dividend Screener

« Prev Page 7 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
PLYMPlymouth Industrial REIT, Inc.4.80%$1.0549.94%
SAFTSafety Insurance Group, Inc.4.80%$3.6361.47%
CETCentral Securities Corp.4.79%$2.4313.87%
GBLIGlobal Indemnity Group, LLC4.79%$1.3870.11%
JANIXJanus Henderson Triton Fund Class D4.79%$1.2767.95%
MITNAG Mortgage Investment Trust, Inc. 9.500% Senior Notes due 20294.77%$1.2175.90%
PRUPrudential Financial, Inc.4.77%$5.4373.37%
IFAFXThe Income Fund of America, Class F-1 Shares4.76%$1.2433.91%
AMECXAmerican Funds The Income Fund of America Class A4.74%$1.2433.91%
UMPQUmpqua Holdings Corporation4.74%$0.8454.13%
NFBKNorthfield Bancorp, Inc.4.73%$0.5454.01%
SBSISouthside Bancshares, Inc.4.72%$1.4462.24%
TNLTravel + Leisure Co.4.72%$3.4054.99%
AIRCApartment Income REIT Corp.4.68%$1.8341.27%
SONSonoco Products Company4.68%$2.0832.95%
OFLXOmega Flex, Inc.4.67%$1.3685.30%
FTAIOFTAI Aviation Ltd.4.65%$1.1825.22%
WDWalker & Dunlop, Inc.4.65%$2.7379.29%
0J2Z.LHA Sustainable Infrastructure Capital, Inc.4.63%$1.4766.70%
FLMNFalcon Minerals Corporation4.63%$0.3681.83%
GSRMGSR II Meteora Acquisition Corp.4.62%$0.1532.94%
FBFWXAmerican Funds Retirement Income Portfolio - Moderate Class F-14.61%$0.6379.77%
GPSThe Gap, Inc.4.61%$0.9341.48%
QUADQuad/Graphics, Inc.4.61%$0.2764.56%
BMYBristol-Myers Squibb Company4.59%$2.4582.81%
WTBAWest Bancorporation, Inc.4.56%$0.9952.39%
SCPLSciPlay Corporation4.55%$1.0417.40%
OLPOne Liberty Properties, Inc.4.53%$0.9257.61%
RWAYLRunway Growth Finance Corp. - 74.53%$1.1475.51%
INSWInternational Seaways, Inc.4.52%$2.1248.43%
RWAYZRunway Growth Finance Corp. 8.00% Notes due 20274.52%$1.1475.51%
DDominion Energy, Inc.4.48%$2.6597.13%
TGTTarget Corporation4.48%$4.5054.48%
COLBColumbia Banking System, Inc.4.47%$1.2662.95%
DFPAXBNY Mellon Diversified International Fund Class A4.46%$0.4556.12%
KEYKeyCorp4.46%$0.9495.81%
RPTIXT. Rowe Price Mid-Cap Growth Fund4.46%$4.3859.54%
CGBDCarlyle Secured Lending, Inc.4.45%$0.5655.08%
NEWTPNewtekOne, Inc. Depositary Shares, Non-Cumulative Perpetual Preferred Stock, Series B4.44%$1.0244.14%
PFCPremier Financial Corp.4.43%$1.2468.07%
BFCBank First Corporation4.40%$5.3073.82%
DUKDuke Energy Corporation4.40%$5.1780.55%
0L77.LSkyworks Solutions, Inc.4.37%$2.7990.67%
ESCAEscalade, Incorporated4.35%$0.6065.28%
DINOHF Sinclair Corporation4.34%$2.0396.43%
LBAILakeland Bancorp, Inc.4.34%$0.5844.96%
CVXChevron Corporation4.32%$6.7495.36%
CVBFCVB Financial Corp.4.31%$0.8154.32%
HTBKHeritage Commerce Corp4.30%$0.5273.66%
EQREquity Residential4.28%$2.6689.76%