United Insurance Holdings Corp. (NASDAQ:UIHC) Stock Rating Upgraded by JMP Securities

JMP Securities upgraded shares of United Insurance Holdings Corp. (NASDAQ:UIHC) from an underperform rating to a market perform rating in a research note published on Wednesday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of United Insurance Holdings Corp. from a hold rating to a sell rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of United Insurance Holdings Corp. from a hold rating to a strong sell rating in a report on Friday, July 14th. Finally, ValuEngine raised shares of United Insurance Holdings Corp. from a sell rating to a hold rating in a report on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $16.17.

Shares of United Insurance Holdings Corp. (UIHC) opened at 16.14 on Wednesday. United Insurance Holdings Corp. has a one year low of $9.52 and a one year high of $17.81. The stock has a market cap of $674.64 million, a price-to-earnings ratio of 106.89 and a beta of 1.61. The stock’s 50 day moving average price is $15.88 and its 200 day moving average price is $15.67.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 21st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.49%. United Insurance Holdings Corp.’s payout ratio is 1,200.00%.

In other United Insurance Holdings Corp. news, Director Alec Poitevint II bought 4,205 shares of United Insurance Holdings Corp. stock in a transaction dated Tuesday, May 16th. The stock was acquired at an average cost of $15.00 per share, with a total value of $63,075.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at $300,000. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.60% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in UIHC. SG Americas Securities LLC acquired a new stake in shares of United Insurance Holdings Corp. during the first quarter worth approximately $144,000. Thrivent Financial For Lutherans acquired a new stake in shares of United Insurance Holdings Corp. during the first quarter worth approximately $160,000. Citadel Advisors LLC acquired a new stake in shares of United Insurance Holdings Corp. during the first quarter worth approximately $177,000. Texas Permanent School Fund boosted its stake in shares of United Insurance Holdings Corp. by 2.0% in the second quarter. Texas Permanent School Fund now owns 13,108 shares of the insurance provider’s stock worth $206,000 after buying an additional 256 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in shares of 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 worth $242,000 after buying an additional 2,294 shares during the last quarter. 27.80% of the stock is owned by institutional investors and hedge funds.

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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