State of Wisconsin Investment Board Has $9.53 Million Holdings in United Insurance Holdings Corp (NASDAQ:UIHC)

State of Wisconsin Investment Board grew its holdings in shares of United Insurance Holdings Corp (NASDAQ:UIHC) by 29.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599,100 shares of the insurance provider’s stock after buying an additional 137,100 shares during the quarter. State of Wisconsin Investment Board’s holdings in United Insurance were worth $9,526,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of UIHC. BNP Paribas Arbitrage SA increased its stake in shares of United Insurance by 2,276.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 4,098 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of United Insurance during the 4th quarter worth about $101,000. Neuburgh Advisers LLC increased its stake in shares of United Insurance by 11.2% during the 4th quarter. Neuburgh Advisers LLC now owns 6,732 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 680 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of United Insurance by 377.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,889 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 5,445 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of United Insurance during the 1st quarter worth about $113,000. 37.40% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Alec Poitevint II purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average price of $13.73 per share, for a total transaction of $343,250.00. Following the purchase, the director now owns 25,000 shares in the company, valued at $343,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders purchased 27,080 shares of company stock worth $374,073. 52.50% of the stock is owned by company insiders.

Several research analysts have recently weighed in on the stock. Wells Fargo & Co lowered shares of United Insurance from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $19.00 to $17.00 in a research note on Wednesday, May 8th. Zacks Investment Research lowered shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Finally, BidaskClub lowered shares of United Insurance from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $19.33.

Shares of UIHC opened at $14.36 on Friday. United Insurance Holdings Corp has a 52 week low of $13.21 and a 52 week high of $22.43. The stock has a market capitalization of $620.15 million, a P/E ratio of 239.33, a P/E/G ratio of 0.65 and a beta of 1.36.

United Insurance (NASDAQ:UIHC) last announced its quarterly earnings results on Tuesday, May 7th. The insurance provider reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.24). United Insurance had a net margin of 0.18% and a return on equity of 0.49%. The company had revenue of $191.97 million during the quarter, compared to analyst estimates of $196.90 million. Equities analysts forecast that United Insurance Holdings Corp will post 1.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 14th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.67%. United Insurance’s dividend payout ratio (DPR) is currently 63.16%.

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United Insurance Company Profile

United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners, as well as dwelling fire policies.

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

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