Zacks Investment Research upgraded shares of United Insurance (NASDAQ:UIHC) from a strong sell rating to a hold rating in a research note released on Friday.
According to Zacks, “United Insurance Holdings Corp., together with its subsidiaries, operates as a property and casualty insurance company. It primarily offers homeowners and dwelling fire insurance policies, as well as provides flood insurance through the National Flood Insurance Program. From its headquarters in St. Petersburg, United’s team of dedicated employees manages a completely integrated insurance company, including sales, underwriting, policyholder service and claims. It principally markets its products through insurance agents. “
Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of United Insurance from a hold rating to a sell rating in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $20.00 price target on shares of United Insurance in a research note on Friday, December 22nd. BidaskClub upgraded shares of United Insurance from a sell rating to a hold rating in a research note on Friday, December 29th. Finally, Wells Fargo & Co reiterated a buy rating and issued a $18.00 price target on shares of United Insurance in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $18.67.
Shares of United Insurance (NASDAQ UIHC) traded up $0.22 during trading on Friday, reaching $18.79. 93,899 shares of the company were exchanged, compared to its average volume of 159,398. The company has a market cap of $793.93, a PE ratio of -23.49, a price-to-earnings-growth ratio of 0.49 and a beta of 1.54. United Insurance has a 52 week low of $13.05 and a 52 week high of $18.86.
In related news, Director Michael Hogan bought 2,500 shares of the stock in a transaction on Tuesday, December 12th. The shares were acquired at an average price of $16.45 per share, for a total transaction of $41,125.00. Following the purchase, the director now owns 57,438 shares of the company’s stock, valued at $944,855.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alec Poitevint II bought 1,500 shares of the stock in a transaction on Friday, December 15th. The shares were bought at an average price of $16.71 per share, for a total transaction of $25,065.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $334,200. The disclosure for this purchase can be found here. 22.60% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of UIHC. Capital Returns Management LLC lifted its stake in United Insurance by 140.9% during the 2nd quarter. Capital Returns Management LLC now owns 604,653 shares of the insurance provider’s stock valued at $9,511,000 after acquiring an additional 353,700 shares during the period. Lido Advisors LLC bought a new position in United Insurance during the 3rd quarter valued at about $2,877,000. Mutual of America Capital Management LLC lifted its stake in United Insurance by 133.7% during the 2nd quarter. Mutual of America Capital Management LLC now owns 236,368 shares of the insurance provider’s stock valued at $3,718,000 after acquiring an additional 135,233 shares during the period. Dimensional Fund Advisors LP lifted its stake in United Insurance by 14.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 925,428 shares of the insurance provider’s stock valued at $15,084,000 after acquiring an additional 119,424 shares during the period. Finally, LSV Asset Management lifted its stake in United Insurance by 85.1% during the 2nd quarter. LSV Asset Management now owns 229,900 shares of the insurance provider’s stock valued at $3,616,000 after acquiring an additional 105,700 shares during the period. Institutional investors and hedge funds own 31.54% of the company’s stock.
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United Insurance Company Profile
United Insurance Holdings Corp. is a property and casualty insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of agents and a group of insurance subsidiaries. The Company’s insurance subsidiary is United Property & Casualty Insurance Company.
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