United Insurance (NASDAQ:UIHC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday.
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. “
A number of other analysts have also commented on the company. Wells Fargo & Co reiterated a “buy” rating and set a $20.50 price target on shares of United Insurance in a report on Wednesday, February 21st. BidaskClub lowered United Insurance from a “hold” rating to a “sell” rating in a report on Saturday, February 17th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $20.00 price target on shares of United Insurance in a report on Friday, December 22nd. Finally, ValuEngine upgraded United Insurance from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.17.
United Insurance (NASDAQ:UIHC) last issued its quarterly earnings results on Wednesday, February 21st. The insurance provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.20. The business had revenue of $181.97 million for the quarter, compared to analyst estimates of $174.08 million. United Insurance had a return on equity of 7.67% and a net margin of 1.55%. research analysts predict that United Insurance will post 2.13 EPS for the current year.
In other United Insurance news, Director Alec Poitevint II purchased 1,500 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average cost of $16.71 per share, for a total transaction of $25,065.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $334,200. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 22.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in UIHC. Northern Trust Corp increased its position in 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 buying an additional 2,176 shares during the last quarter. Vanguard Group Inc. increased its position in 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 buying an additional 35,477 shares during the last quarter. Dimensional Fund Advisors LP increased its position in 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 buying an additional 24,555 shares during the last quarter. State Street Corp increased its position in 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 buying an additional 15,179 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in United Insurance in the third quarter worth $304,000. 32.05% of the stock is owned by institutional investors and hedge funds.
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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