1347 Property Insurance (PIH) Raised to Hold at Zacks Investment Research

1347 Property Insurance (NASDAQ:PIH) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “1347 Property Insurance Holdings, Inc., through its subsidiary, Maison Insurance Company, provides property and casualty insurance products to individuals in Louisiana. Its insurance offerings include homeowners’ insurance, manufactured home insurance and dwelling fire insurance. 1347 Property Insurance Holdings, Inc. is based in Baton Rouge, Louisiana. “

Other research analysts also recently issued research reports about the stock. TheStreet raised shares of 1347 Property Insurance from a “c” rating to a “b-” rating in a research note on Monday, August 20th. Boenning Scattergood reaffirmed a “buy” rating and issued a $9.00 price target on shares of 1347 Property Insurance in a research note on Wednesday, August 15th. Finally, ValuEngine raised shares of 1347 Property Insurance from a “sell” rating to a “hold” rating in a research report on Monday, July 16th.

PIH stock opened at $6.00 on Wednesday. The stock has a market capitalization of $36.93 million, a P/E ratio of 46.15 and a beta of 0.20. 1347 Property Insurance has a 12 month low of $5.25 and a 12 month high of $8.25.

1347 Property Insurance (NASDAQ:PIH) last posted its quarterly earnings results on Tuesday, August 14th. The insurance provider reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.09). The company had revenue of $14.28 million during the quarter, compared to analysts’ expectations of $14.70 million. 1347 Property Insurance had a return on equity of 3.68% and a net margin of 2.51%. As a group, analysts forecast that 1347 Property Insurance will post 0.83 earnings per share for the current fiscal year.

In other 1347 Property Insurance news, Director Global Investors Fundamental bought 75,000 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were acquired at an average price of $7.13 per share, with a total value of $534,750.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 47.20% of the company’s stock.

An institutional investor recently bought a new position in 1347 Property Insurance stock. Dimensional Fund Advisors LP acquired a new position in 1347 Property Insurance Holdings Inc (NASDAQ:PIH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,405 shares of the insurance provider’s stock, valued at approximately $109,000. Dimensional Fund Advisors LP owned about 0.26% of 1347 Property Insurance as of its most recent SEC filing. 25.31% of the stock is owned by institutional investors.

1347 Property Insurance Company Profile

1347 Property Insurance Holdings, Inc, through its subsidiaries, provides property and casualty insurance products to individuals in Louisiana, Florida, and Texas. The company offers homeowners' insurance, manufactured home insurance, dwelling fire insurance, and wind/hail insurance products, as well as reinsurance products.

Further Reading: Why does a company issue an IPO?

Get a free copy of the Zacks research report on 1347 Property Insurance (PIH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for 1347 Property Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 1347 Property Insurance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply