United Insurance (UIHC) Lowered to “Market Perform” at Keefe, Bruyette & Woods

United Insurance (NASDAQ:UIHC) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued on Monday, MarketBeat.com reports. They currently have a $18.00 price target on the insurance provider’s stock, down from their previous price target of $23.00. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 1.80% from the company’s current price.

A number of other analysts have also issued reports on UIHC. BidaskClub lowered shares of United Insurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. Wells Fargo & Co reissued a “buy” rating on shares of United Insurance in a research report on Monday, July 23rd. Finally, Zacks Investment Research raised shares of United Insurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. United Insurance currently has an average rating of “Hold” and a consensus target price of $21.00.

NASDAQ UIHC opened at $18.33 on Monday. The company has a market capitalization of $808.48 million, a PE ratio of 19.71, a P/E/G ratio of 0.75 and a beta of 1.72. United Insurance has a 52-week low of $15.30 and a 52-week high of $22.43.

United Insurance (NASDAQ:UIHC) last posted its quarterly earnings results on Thursday, November 1st. The insurance provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.40). The company had revenue of $181.99 million during the quarter, compared to analysts’ expectations of $174.94 million. United Insurance had a return on equity of 9.33% and a net margin of 5.23%. As a group, research analysts anticipate that United Insurance will post 1.26 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Ashford Capital Management Inc. acquired a new position in United Insurance in the second quarter worth approximately $14,346,000. BlackRock Inc. increased its holdings in United Insurance by 7.1% in the second quarter. BlackRock Inc. now owns 2,906,265 shares of the insurance provider’s stock worth $56,905,000 after buying an additional 192,617 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in United Insurance by 14.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,341,228 shares of the insurance provider’s stock worth $26,261,000 after buying an additional 165,789 shares during the last quarter. Millennium Management LLC increased its holdings in United Insurance by 583.6% in the first quarter. Millennium Management LLC now owns 172,157 shares of the insurance provider’s stock worth $3,295,000 after buying an additional 146,972 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC increased its holdings in United Insurance by 575.0% in the second quarter. Franklin Street Advisors Inc. NC now owns 135,000 shares of the insurance provider’s stock worth $2,643,000 after buying an additional 115,000 shares during the last quarter. Hedge funds and other institutional investors own 32.53% of the company’s stock.

United Insurance Company 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. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners, as well as dwelling fire policies.

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