ValuEngine cut shares of United Insurance (NASDAQ:UIHC) from a buy rating to a hold rating in a research report released on Wednesday.
Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods set a $21.00 price objective on United Insurance and gave the stock a buy rating in a research note on Monday, January 15th. Zacks Investment Research upgraded United Insurance from a strong sell rating to a hold rating in a research note on Friday, January 12th. BidaskClub upgraded United Insurance from a sell rating to a hold rating in a research note on Friday, December 29th. Finally, Wells Fargo & Co reiterated a buy rating and issued a $20.50 price target on shares of United Insurance in a research note on Wednesday, February 21st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $21.17.
Shares of United Insurance (UIHC) traded up $0.15 during midday trading on Wednesday, hitting $19.98. The company had a trading volume of 234,982 shares, compared to its average volume of 151,339. The stock has a market cap of $854.20, a PE ratio of 21.96, a P/E/G ratio of 0.47 and a beta of 1.59. United Insurance has a 1 year low of $13.60 and a 1 year high of $20.31.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders 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 yield of 1.20%. The ex-dividend date of this dividend is Tuesday, March 6th. United Insurance’s dividend payout ratio (DPR) is presently 75.00%.
In other news, Director Alec Poitevint II acquired 1,500 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were acquired at an average cost of $16.71 per share, with a total value of $25,065.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $334,200. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael Hogan acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was purchased at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the acquisition, the director now directly owns 57,438 shares of the company’s stock, valued at approximately $944,855.10. The disclosure for this purchase can be found here. Company insiders own 22.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in UIHC. Alliancebernstein L.P. increased its holdings in shares of United Insurance by 77.8% in the second quarter. Alliancebernstein L.P. now owns 22,400 shares of the insurance provider’s stock valued at $352,000 after purchasing an additional 9,800 shares during the period. Teachers Advisors LLC increased its holdings 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 valued at $518,000 after purchasing an additional 2,634 shares during the period. Northern Trust Corp increased its holdings 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 valued at $3,246,000 after purchasing an additional 2,176 shares during the period. Vanguard Group Inc. increased its holdings 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 valued at $15,376,000 after purchasing an additional 35,477 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings 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 valued at $12,679,000 after purchasing an additional 24,555 shares during the period. 31.93% of the stock is currently owned by institutional investors and hedge funds.
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United Insurance 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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