Zacks Investment Research Lowers United Insurance (UIHC) to Hold

Zacks Investment Research lowered shares of United Insurance (NASDAQ:UIHC) from a buy rating to a hold rating in a report released on Saturday, January 20th.

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 also recently issued reports about the company. ValuEngine downgraded United Insurance from a hold rating to a sell rating in a research report on Tuesday, October 17th. Keefe, Bruyette & Woods set a $21.00 price objective on United Insurance and gave the stock a buy rating in a report on Monday, January 15th. BidaskClub upgraded United Insurance from a sell rating to a hold rating in a report on Friday, December 29th. Finally, Wells Fargo & Co restated a buy rating and issued a $18.00 price objective on shares of United Insurance in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. United Insurance has a consensus rating of Hold and a consensus price target of $19.50.

Shares of United Insurance (UIHC) opened at $18.43 on Friday. United Insurance has a 52 week low of $13.60 and a 52 week high of $20.31. The company has a market capitalization of $797.35, a price-to-earnings ratio of -23.31, a P/E/G ratio of 0.41 and a beta of 1.65.

In other United Insurance news, Director Alec Poitevint II acquired 1,500 shares of the stock in a transaction on Friday, December 15th. The stock was purchased 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 $334,200. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Hogan acquired 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, with a total value of $41,125.00. Following the purchase, the director now owns 57,438 shares in the company, valued at $944,855.10. The disclosure for this purchase can be found here. Company insiders own 22.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of UIHC. JPMorgan Chase & Co. bought a new stake in shares of United Insurance in the 2nd quarter worth approximately $330,000. Vanguard Group Inc. lifted its holdings in shares of United Insurance by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock worth $15,376,000 after purchasing an additional 35,477 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of United Insurance by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,004 shares of the insurance provider’s stock worth $12,679,000 after purchasing an additional 24,555 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of United Insurance by 133.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 236,368 shares of the insurance provider’s stock worth $3,718,000 after purchasing an additional 135,233 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of United Insurance by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 154,716 shares of the insurance provider’s stock worth $2,522,000 after purchasing an additional 18,155 shares during the last quarter. Hedge funds and other institutional investors own 31.50% of the company’s stock.

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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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