Zacks Investment Research lowered shares of United Insurance Holdings Corp. (NASDAQ:UIHC) from a hold rating to a strong sell rating in a report issued on Friday.
According to Zacks, “United Insurance Holdings Corp., together with its subsidiaries, operates as a property and casualty insurance company. It primarily offers homeowners and dwelling fire insurance policies, as well as provides flood insurance through the National Flood Insurance Program. From its headquarters in St. Petersburg, United’s team of dedicated employees manages a completely integrated insurance company, including sales, underwriting, policyholder service and claims. It principally markets its products through insurance agents. “
Several other equities analysts also recently weighed in on UIHC. ValuEngine raised United Insurance Holdings Corp. from a sell rating to a hold rating in a research note on Wednesday, June 14th. Keefe, Bruyette & Woods reaffirmed an outperform rating on shares of United Insurance Holdings Corp. in a research note on Thursday, April 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $16.17.
Shares of United Insurance Holdings Corp. (UIHC) traded down 0.06% during mid-day trading on Friday, hitting $16.00. The company had a trading volume of 83,397 shares. The firm has a 50-day moving average price of $15.93 and a 200 day moving average price of $15.59. The firm has a market capitalization of $344.08 million, a P/E ratio of 53.16 and a beta of 1.61. United Insurance Holdings Corp. has a 12 month low of $9.52 and a 12 month high of $17.81.
In related news, insider Andrew Swenson purchased 4,000 shares of the company’s stock in a transaction on Friday, May 12th. The stock was bought at an average price of $15.00 per share, with a total value of $60,000.00. Following the completion of the transaction, the insider now owns 30,017 shares of the company’s stock, valued at approximately $450,255. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alec Poitevint II purchased 3,519 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $15.03 per share, with a total value of $52,890.57. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $300,600. The disclosure for this purchase can be found here. Insiders have acquired 24,000 shares of company stock valued at $356,791 in the last three months. 22.60% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in United Insurance Holdings Corp. during the first quarter valued at $144,000. Thrivent Financial For Lutherans bought a new position in United Insurance Holdings Corp. during the first quarter valued at $160,000. Citadel Advisors LLC bought a new position in United Insurance Holdings Corp. during the first quarter valued at $177,000. State of Tennessee Treasury Department increased its position in United Insurance Holdings Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 15,198 shares of the insurance provider’s stock valued at $242,000 after buying an additional 2,294 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in United Insurance Holdings Corp. by 2.3% in the second quarter. Capstone Asset Management Co. now owns 17,770 shares of the insurance provider’s stock valued at $280,000 after buying an additional 400 shares during the last quarter. 28.51% of the stock is owned by institutional investors.
United Insurance Holdings Corp. 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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