United Insurance Holdings Corp (NASDAQ:UIHC) saw strong trading volume on Friday . 1,353,532 shares traded hands during trading, an increase of 986% from the previous session’s volume of 124,687 shares.The stock last traded at $12.09 and had previously closed at $11.59.
A number of equities analysts have commented on the stock. Wells Fargo & Co set a $15.00 price objective on shares of United Insurance and gave the stock a “hold” rating in a research report on Friday, July 19th. ValuEngine downgraded shares of United Insurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Raymond James cut their price objective on shares of United Insurance from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Zacks Investment Research downgraded shares of United Insurance from a “hold” rating to a “strong sell” rating in a research report on Saturday, July 27th. Finally, BidaskClub upgraded shares of United Insurance from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.75.
The stock’s fifty day moving average price is $12.88 and its 200-day moving average price is $14.81.
United Insurance (NASDAQ:UIHC) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.17). The company had revenue of $202.05 million during the quarter, compared to analysts’ expectations of $201.52 million. United Insurance had a negative net margin of 2.09% and a negative return on equity of 2.94%. Analysts expect that United Insurance Holdings Corp will post 0.65 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.99%. United Insurance’s dividend payout ratio is presently 63.16%.
In related news, Director Alec Poitevint II purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $13.73 per share, for a total transaction of $343,250.00. Following the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $343,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Patrick Maroney purchased 3,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average price of $11.75 per share, with a total value of $35,250.00. Following the acquisition, the director now directly owns 7,750 shares in the company, valued at $91,062.50. The disclosure for this purchase can be found here. Insiders bought a total of 35,258 shares of company stock valued at $464,592 in the last quarter. Insiders own 52.50% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in UIHC. Bank of Montreal Can grew its stake in United Insurance by 183.6% in the 2nd quarter. Bank of Montreal Can now owns 2,408 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 1,559 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in United Insurance in the 2nd quarter valued at about $45,000. Aperio Group LLC acquired a new stake in United Insurance in the 2nd quarter valued at about $59,000. BNP Paribas Arbitrage SA grew its stake in United Insurance by 2,276.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 4,098 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in United Insurance in the 4th quarter valued at about $101,000. Institutional investors and hedge funds own 37.78% of the company’s stock.
About United Insurance (NASDAQ:UIHC)
United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal 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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