Icon Advisers Inc. Co. boosted its holdings in United Insurance Holdings Corp (NASDAQ:UIHC) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,900 shares of the insurance provider’s stock after buying an additional 9,800 shares during the quarter. Icon Advisers Inc. Co. owned 0.20% of United Insurance worth $1,447,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in UIHC. First Quadrant L P CA purchased a new stake in United Insurance during the 3rd quarter valued at $101,000. Municipal Employees Retirement System of Michigan boosted its holdings in United Insurance by 82.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 3,500 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in United Insurance by 88.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after purchasing an additional 4,754 shares during the period. Thrivent Financial For Lutherans boosted its holdings in United Insurance by 7.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock valued at $169,000 after purchasing an additional 720 shares during the period. Finally, Stevens Capital Management LP bought a new stake in United Insurance in the 3rd quarter valued at about $209,000. 31.50% of the stock is owned by hedge funds and other institutional investors.
Shares of United Insurance Holdings Corp (NASDAQ UIHC) traded up $0.08 during mid-day trading on Friday, hitting $18.79. 47,545 shares of the stock traded hands, compared to its average volume of 117,614. United Insurance Holdings Corp has a 52 week low of $13.60 and a 52 week high of $20.31. The stock has a market capitalization of $803.33, a P/E ratio of -23.49, a P/E/G ratio of 0.42 and a beta of 1.65.
In related news, Director Alec Poitevint II acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $16.71 per share, for a total transaction of $25,065.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $334,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Hogan acquired 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were bought at an average price of $16.45 per share, with a total value of $41,125.00. Following the acquisition, the director now directly owns 57,438 shares of the company’s stock, valued at approximately $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 research firms have recently commented on UIHC. BidaskClub raised shares of United Insurance from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods set a $21.00 price objective on shares of United Insurance and gave the stock a “buy” rating in a report on Monday, January 15th. Wells Fargo & Co restated a “buy” rating and set a $18.00 price objective on shares of United Insurance in a report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of United Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.50.
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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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