United Insurance (NASDAQ:UIHC) Rating Increased to Buy at BidaskClub

United Insurance (NASDAQ:UIHC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday, January 19th.

A number of other analysts also recently issued reports on the company. Zacks Investment Research upgraded United Insurance from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 14th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $20.00 target price on shares of United Insurance in a research report on Friday, December 22nd. ValuEngine downgraded United Insurance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Wells Fargo & Co restated a “buy” rating and issued a $18.00 target price on shares of United Insurance in a research 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 given a buy rating to the company. United Insurance currently has a consensus rating of “Hold” and an average target price of $19.50.

Shares of United Insurance (NASDAQ:UIHC) traded up $0.19 on Friday, hitting $18.51. The stock had a trading volume of 79,261 shares, compared to its average volume of 170,741. The company has a market cap of $787.95, a P/E ratio of -23.14, a PEG ratio of 0.41 and a beta of 1.65. United Insurance has a 12-month low of $13.60 and a 12-month high of $20.31.

In other news, Director Michael Hogan purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were bought at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the transaction, the director now directly owns 57,438 shares of the company’s stock, valued at approximately $944,855.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alec Poitevint II purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were purchased at an average price of $16.71 per share, for a total transaction of $25,065.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $334,200. The disclosure for this purchase can be found here. 22.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. bought a new stake in United Insurance in the second quarter worth $330,000. Vanguard Group Inc. boosted its holdings in United Insurance by 3.8% in the second quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock worth $15,376,000 after acquiring an additional 35,477 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in United Insurance by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 806,004 shares of the insurance provider’s stock worth $12,679,000 after acquiring an additional 24,555 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in United Insurance by 133.7% in the second quarter. Mutual of America Capital Management LLC now owns 236,368 shares of the insurance provider’s stock worth $3,718,000 after acquiring an additional 135,233 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in United Insurance by 13.3% in the third quarter. Principal Financial Group Inc. now owns 154,716 shares of the insurance provider’s stock worth $2,522,000 after acquiring an additional 18,155 shares in the last quarter. 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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