BlackRock Inc. Acquires 105,644 Shares of United Insurance Holdings (UIHC)

BlackRock Inc. boosted its holdings in shares of United Insurance Holdings (NASDAQ:UIHC) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,678,582 shares of the insurance provider’s stock after purchasing an additional 105,644 shares during the period. BlackRock Inc. owned about 0.06% of United Insurance worth $46,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Polaris Capital Management LLC raised its position in United Insurance by 78.6% during the fourth quarter. Polaris Capital Management LLC now owns 254,955 shares of the insurance provider’s stock valued at $56,207,000 after acquiring an additional 112,204 shares in the last quarter. Simplex Trading LLC raised its position in United Insurance by 1,260.1% during the fourth quarter. Simplex Trading LLC now owns 15,927 shares of the insurance provider’s stock valued at $274,000 after acquiring an additional 14,756 shares in the last quarter. Principal Financial Group Inc. raised its position in United Insurance by 13.3% during the third quarter. Principal Financial Group Inc. now owns 154,716 shares of the insurance provider’s stock valued at $2,522,000 after acquiring an additional 18,155 shares in the last quarter. Dimensional Fund Advisors LP raised its position in United Insurance by 14.8% during the third quarter. Dimensional Fund Advisors LP now owns 925,428 shares of the insurance provider’s stock valued at $15,084,000 after acquiring an additional 119,424 shares in the last quarter. Finally, Arizona State Retirement System raised its position in United Insurance by 224.9% during the fourth quarter. Arizona State Retirement System now owns 34,492 shares of the insurance provider’s stock valued at $595,000 after acquiring an additional 23,876 shares in the last quarter. 32.09% of the stock is currently owned by hedge funds and other institutional investors.

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Several equities analysts recently weighed in on UIHC shares. ValuEngine raised shares of United Insurance from a “hold” rating to a “buy” rating in a research report on Friday, February 23rd. Wells Fargo reaffirmed a “buy” rating and set a $20.50 price objective on shares of United Insurance in a research report on Wednesday, February 21st. BidaskClub raised shares of United Insurance from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Keefe, Bruyette & Woods set a $21.00 price target on shares of United Insurance and gave the company a “buy” rating in a research report on Monday, January 15th. Finally, Zacks Investment Research lowered shares of United Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. United Insurance presently has an average rating of “Hold” and a consensus price target of $21.33.

NASDAQ:UIHC opened at $17.85 on Friday. United Insurance Holdings has a 12 month low of $13.60 and a 12 month high of $20.40. The company has a market capitalization of $777.98, a PE ratio of 19.19, a PEG ratio of 0.43 and a beta of 1.58.

United Insurance (NASDAQ:UIHC) last released its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.20. United Insurance had a net margin of 1.55% and a return on equity of 7.67%. The company had revenue of $181.97 million for the quarter, compared to analyst estimates of $174.08 million. sell-side analysts forecast that United Insurance Holdings will post 2.13 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 14th. Stockholders of record on Wednesday, March 7th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Tuesday, March 6th. United Insurance’s dividend payout ratio is 25.81%.

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United Insurance Profile

United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential and commercial property, and casualty insurance policies in the United States. It offers single-family homeowners, dwelling fire, renters, condominium unit owners, and commercial residential insurance policies, as well as federal flood, equipment breakdown, and identity theft insurance policies.

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Institutional Ownership by Quarter for United Insurance (NASDAQ:UIHC)

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