State Street Corp Acquires 15,179 Shares of United Insurance Holdings Corp. (UIHC)

State Street Corp grew its holdings in shares of United Insurance Holdings Corp. (NASDAQ:UIHC) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 371,275 shares of the insurance provider’s stock after purchasing an additional 15,179 shares during the quarter. State Street Corp owned approximately 0.89% of United Insurance worth $5,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UIHC. Thrivent Financial For Lutherans boosted its stake in United Insurance by 7.2% during the 2nd quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock worth $169,000 after purchasing an additional 720 shares during the last quarter. Texas Permanent School Fund boosted its stake in United Insurance by 2.0% during the 2nd quarter. Texas Permanent School Fund now owns 13,108 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 256 shares during the last quarter. Capstone Asset Management Co. boosted its stake in United Insurance by 2.3% during the 2nd quarter. Capstone Asset Management Co. now owns 17,770 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 400 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in United Insurance during the 2nd quarter worth $330,000. Finally, Alliancebernstein L.P. boosted its stake in United Insurance by 77.8% during the 2nd quarter. Alliancebernstein L.P. now owns 22,400 shares of the insurance provider’s stock worth $352,000 after purchasing an additional 9,800 shares during the last quarter. 31.58% of the stock is currently owned by institutional investors.

United Insurance Holdings Corp. (NASDAQ UIHC) opened at $16.61 on Monday. United Insurance Holdings Corp. has a 1 year low of $12.92 and a 1 year high of $17.81.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 22nd were given a dividend of $0.06 per share. The ex-dividend date was Tuesday, November 21st. This represents a $0.24 annualized dividend and a dividend yield of 1.44%. United Insurance’s payout ratio is -30.00%.

Several brokerages have issued reports on UIHC. Wells Fargo & Company reaffirmed a “buy” rating and set a $18.00 target price on shares of United Insurance in a research note on Tuesday, November 7th. ValuEngine cut shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Zacks Investment Research cut shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. BidaskClub raised shares of United Insurance from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Finally, JMP Securities raised shares of United Insurance from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. United Insurance currently has a consensus rating of “Buy” and an average price target of $18.00.

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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.

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Institutional Ownership by Quarter for United Insurance (NASDAQ:UIHC)

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