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.
WARNING: This story was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/02/14/bidaskclub-upgrades-united-insurance-uihc-to-buy.html.
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.
Receive News & Ratings for United Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Insurance and related companies with MarketBeat.com's FREE daily email newsletter.