Shares of United Insurance Holdings Corp (NASDAQ:UIHC) saw an uptick in trading volume on Thursday . 50,286 shares changed hands during trading, a decline of 70% from the previous session’s volume of 170,256 shares.The stock last traded at $19.73 and had previously closed at $19.19.
Several research firms have recently weighed in on UIHC. ValuEngine cut United Insurance from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded United Insurance from a “sell” rating to a “hold” rating in a report on Friday, March 2nd. Zacks Investment Research upgraded United Insurance from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Friday, February 23rd. Finally, Keefe, Bruyette & Woods set a $21.00 price target on United Insurance and gave the stock a “buy” rating in a report on Monday, January 15th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $21.17.
The stock has a market cap of $820.43, a price-to-earnings ratio of 62.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.59.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, March 7th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, March 6th. United Insurance’s dividend payout ratio is currently 75.00%.
In related news, Director Alec Poitevint II acquired 1,500 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average cost of $16.71 per share, with a total value of $25,065.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $334,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Hogan acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was bought at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the purchase, the director now owns 57,438 shares of the company’s stock, valued at $944,855.10. The disclosure for this purchase can be found here. 22.60% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of UIHC. Teachers Advisors LLC lifted its stake in shares of United Insurance by 8.7% in the second quarter. Teachers Advisors LLC now owns 32,918 shares of the insurance provider’s stock worth $518,000 after acquiring an additional 2,634 shares during the period. Northern Trust Corp lifted its stake in shares of United Insurance by 1.1% in the second quarter. Northern Trust Corp now owns 206,410 shares of the insurance provider’s stock worth $3,246,000 after acquiring an additional 2,176 shares during the period. Vanguard Group Inc. lifted its stake in shares of United Insurance by 3.8% in the second quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock worth $15,376,000 after acquiring an additional 35,477 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of United Insurance by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 806,004 shares of the insurance provider’s stock worth $12,679,000 after acquiring an additional 24,555 shares during the period. Finally, State Street Corp lifted its stake in shares of United Insurance by 4.3% in the second quarter. State Street Corp now owns 371,275 shares of the insurance provider’s stock worth $5,841,000 after acquiring an additional 15,179 shares during the period. 31.93% of the stock is currently owned by institutional investors.
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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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