Perritt Capital Management Inc. Lowers Stake in United Insurance Holdings Corp (NASDAQ:UIHC)
Perritt Capital Management Inc. cut its holdings in United Insurance Holdings Corp (NASDAQ:UIHC) by 23.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,950 shares of the insurance provider’s stock after selling 19,948 shares during the quarter. Perritt Capital Management Inc. owned about 0.15% of United Insurance worth $912,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of America Corp DE boosted its stake in shares of United Insurance by 1,050.7% during the fourth quarter. Bank of America Corp DE now owns 52,379 shares of the insurance provider’s stock worth $870,000 after buying an additional 47,827 shares during the period. Dimensional Fund Advisors LP lifted its position in United Insurance by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,583,176 shares of the insurance provider’s stock worth $26,312,000 after acquiring an additional 127,709 shares during the period. BNP Paribas Arbitrage SA lifted its position in 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 acquiring an additional 4,098 shares during the period. SG Americas Securities LLC purchased a new position in shares of United Insurance in the 1st quarter valued at approximately $113,000. Finally, Comerica Bank grew its stake in shares of United Insurance by 4.5% in the 1st quarter. Comerica Bank now owns 21,411 shares of the insurance provider’s stock valued at $346,000 after purchasing an additional 927 shares during the last quarter. Institutional investors own 36.84% of the company’s stock.
Several research firms have recently commented on UIHC. Wells Fargo & Co set a $15.00 price target on United Insurance and gave the stock a “hold” rating in a research note on Friday, July 19th. BidaskClub upgraded shares of United Insurance from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Zacks Investment Research cut shares of United Insurance from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 27th. ValuEngine raised shares of United Insurance from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Finally, Raymond James dropped their price target on shares of United Insurance from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $17.75.
United Insurance (NASDAQ:UIHC) last released its earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.17). The business had revenue of $202.05 million during the quarter, compared to analyst estimates of $201.52 million. United Insurance had a negative net margin of 2.09% and a negative return on equity of 2.94%. Analysts predict that United Insurance Holdings Corp will post 0.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.71%. United Insurance’s dividend payout ratio is presently 63.16%.
In related news, Director Patrick Maroney bought 3,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $11.75 per share, for a total transaction of $35,250.00. Following the completion of the transaction, the director now owns 7,750 shares of the company’s stock, valued at approximately $91,062.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Scott St bought 4,258 shares of the company’s stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $11.79 per share, with a total value of $50,201.82. Following the completion of the acquisition, the insider now owns 6,784 shares of the company’s stock, valued at approximately $79,983.36. The disclosure for this purchase can be found here. Insiders purchased 14,960 shares of company stock valued at $140,456 in the last quarter. Company insiders own 52.50% of the company’s stock.
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.
Featured Story: What does the Producer Price Index (PPI) tell investors?
Receive News & Ratings for United Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Insurance and related companies with MarketBeat.com's FREE daily email newsletter.