Zacks Investment Research Downgrades United Insurance (UIHC) to Strong Sell

Zacks Investment Research cut shares of United Insurance (NASDAQ:UIHC) from a hold rating to a strong sell rating in a report issued on Saturday, January 6th.

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. “

A number of other brokerages also recently issued reports on UIHC. BidaskClub upgraded United Insurance from a sell rating to a hold rating in a research note on Friday, December 29th. Keefe, Bruyette & Woods reissued a buy rating and issued a $20.00 price target on shares of United Insurance in a report on Friday, December 22nd. ValuEngine cut United Insurance from a hold rating to a sell rating in a report on Tuesday, October 17th. Finally, Wells Fargo & Co reissued a buy rating and issued a $18.00 price target on shares of United Insurance in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. United Insurance has a consensus rating of Buy and a consensus target price of $19.00.

Shares of United Insurance (NASDAQ UIHC) remained flat at $$19.32 during trading hours on Friday. 82,986 shares of the company traded hands, compared to its average volume of 191,716. The company has a market capitalization of $831.13, a P/E ratio of -24.15, a P/E/G ratio of 0.43 and a beta of 1.54. United Insurance has a 52 week low of $13.05 and a 52 week high of $20.31.

United Insurance (NASDAQ:UIHC) last announced its quarterly earnings data on Monday, November 6th. The insurance provider reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.79) by $0.29. United Insurance had a negative return on equity of 2.29% and a negative net margin of 4.54%. sell-side analysts expect that United Insurance will post 0.75 earnings per share for the current fiscal year.

In other news, Director Alec Poitevint II acquired 1,500 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $16.71 per share, with a total value of $25,065.00. Following the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $334,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Hogan acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were purchased at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the acquisition, the director now directly owns 57,438 shares in the company, valued at $944,855.10. The disclosure for this purchase can be found here. 22.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UIHC. Capital Returns Management LLC increased its position in shares of 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 purchasing an additional 353,700 shares during the last quarter. Lido Advisors LLC bought a new position in shares of United Insurance during the 3rd quarter valued at approximately $2,877,000. Mutual of America Capital Management LLC increased its position in shares of 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 purchasing an additional 135,233 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 119,424 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of 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 purchasing an additional 105,700 shares during the last quarter. 31.59% of the stock is currently owned by hedge funds and other institutional investors.

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About United Insurance

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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