United Insurance (NASDAQ:UIHC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors 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. “
Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $20.00 target price on shares of United Insurance in a research note on Friday, December 22nd. Wells Fargo & Co reiterated a “buy” rating and set a $18.00 price target on shares of United Insurance in a report on Tuesday, November 7th. BidaskClub upgraded United Insurance from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, ValuEngine cut United Insurance from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $18.67.
Shares of United Insurance (NASDAQ:UIHC) traded down $0.02 on Friday, hitting $18.57. The company’s stock had a trading volume of 135,900 shares, compared to its average volume of 237,300. United Insurance has a twelve month low of $13.05 and a twelve month high of $18.85. The firm has a market cap of $797.35, a P/E ratio of -23.21, a PEG ratio of 0.48 and a beta of 1.54.
In other United Insurance news, Director Michael Hogan purchased 2,500 shares of the stock in a transaction dated Tuesday, December 12th. The stock was acquired at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the acquisition, the director now owns 57,438 shares in the company, valued at approximately $944,855.10. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alec Poitevint II purchased 1,500 shares of the stock in a transaction dated Friday, December 15th. The shares were acquired at an average price 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 in the company, valued at approximately $334,200. The disclosure for this purchase can be found here. Corporate insiders own 22.60% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Quadrant L P CA purchased a new position in United Insurance during the 3rd quarter valued at about $101,000. Municipal Employees Retirement System of Michigan boosted its holdings in United Insurance by 82.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 3,500 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in United Insurance by 88.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 4,754 shares during the period. Thrivent Financial For Lutherans boosted its holdings 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 valued at $169,000 after acquiring an additional 720 shares during the period. Finally, Stevens Capital Management LP purchased a new position in United Insurance during the 3rd quarter valued at about $209,000. Institutional investors and hedge funds own 31.54% of the company’s stock.
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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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