United Fire Group, Inc. (UFCS) Stock

United Fire Group, Inc. (UFCS) is a Financials stock trading at $52.97 (as of 2026-08-21), with a market capitalization of $1.36B and a trailing P/E of 9.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

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; and commercial multiple peril and inland marine insurance, as well as assumed reinsurance products. Its commercial policies include fire and allied lines, other liability, automobile, workers' compensation, and fidelity 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.

Understand United Fire Group, Inc.: how it makes money

United Fire Group provides property and casualty insurance for individuals and businesses in the United States, and it makes money by collecting premiums from these insurance policies (including commercial and personal lines) and related assumed reinsurance products.

For a property and casualty insurer, underwriting performance is the structural driver of profitability, and the company discloses it through the Combined Ratio (how losses and expenses compare with premiums).

Business quality (Mixed): For the quarter ended 2026-03-31, underwriting appears close to breakeven based on a 95.6% Combined Ratio, with an Underwriting Expense Ratio of 34.9% and an underlying loss ratio of 57.0%. Rate Achievement is 0.6%, while the company still produced an operating margin of 10.3%, suggesting results were supported by factors beyond the headline underwriting metrics.

Valuation: At 9× earnings, UFCS trades 31% below the Insurance average (13×). Note: one-time items can distort reported P/E.

Bull case

95.6% Combined Ratio: A Combined Ratio below 100% indicates underwriting was not loss-making on a current-quarter basis, supporting operating performance.
91.9% Underlying Combined Ratio: The underlying Combined Ratio is better than the headline Combined Ratio, suggesting less stress in the underlying underwriting picture.

Bear case

Underwriting remains sensitive: With a Combined Ratio at 95.6%, small adverse movements in losses or underwriting expenses could push the ratio higher and pressure operating results.
Rate Achievement of 0.6%: Pricing progress is present but modest, which can limit how much the company can offset adverse claims trends.

Valuation — source: SEC EDGAR (first-party)
Price	$52.97
Market Cap	$1.36B
P/E Ratio	9.6
EV / EBITDA	7.3
Price / Book	1.39
Price / Sales	0.92
DCF Value (model)	$101.44
DCF Upside vs Price	91.5%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.39B
Net Margin	8.5%
Revenue Growth (YoY)	14.4%
EPS Growth (YoY)	44.4%

Valuation vs Sector & Industry
Stock P/E	9.6
Sector P/E (Financials)	15.1
Industry P/E (Insurance)	13.0
vs Sector	-36.2%
vs Industry	-26.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($127.79M)
Institutional Holders Tracked	10

Company
Sector	Financials
Industry	Insurance
CEO	Kevin James Leidwinger
Employees	877
Country	US
IPO Date	1980-03-18

Related Companies (Business model: Property & Casualty Insurer; 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.