United Insurance (UIHC) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of United Insurance (NASDAQ:UIHC) from a hold rating to a sell rating in a research note published on Saturday.

Other analysts also recently issued research reports about the stock. 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 reissued 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 downgraded shares of United Insurance from a buy rating to a hold rating in a report on Saturday, January 20th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $19.50.

Shares of United Insurance (NASDAQ:UIHC) opened at $18.79 on Friday. United Insurance has a fifty-two week low of $13.60 and a fifty-two week high of $20.31.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in United Insurance during the fourth quarter worth about $149,000. Millennium Management LLC acquired a new position in United Insurance during the fourth quarter worth about $434,000. Stone Ridge Asset Management LLC acquired a new position in United Insurance during the fourth quarter worth about $214,000. Deutsche Bank AG raised its position in United Insurance by 105.0% during the fourth quarter. Deutsche Bank AG now owns 45,696 shares of the insurance provider’s stock worth $786,000 after acquiring an additional 23,405 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in United Insurance by 15.9% during the fourth quarter. Franklin Resources Inc. now owns 676,934 shares of the insurance provider’s stock worth $11,677,000 after acquiring an additional 92,800 shares during 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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