Prudential Financial Inc. reduced its stake in shares of United Insurance Holdings Corp. (NASDAQ:UIHC) by 61.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,270 shares of the insurance provider’s stock after selling 142,600 shares during the period. Prudential Financial Inc. owned 0.42% of United Insurance Holdings Corp. worth $1,404,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in UIHC. Virginia Retirement Systems ET AL boosted its position in shares of United Insurance Holdings Corp. by 3.3% in the second quarter. Virginia Retirement Systems ET AL now owns 25,300 shares of the insurance provider’s stock worth $398,000 after acquiring an additional 800 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in United Insurance Holdings Corp. in the second quarter valued at approximately $4,157,000. Investment Management of Virginia LLC grew its holdings in United Insurance Holdings Corp. by 41.4% in the second quarter. Investment Management of Virginia LLC now owns 75,290 shares of the insurance provider’s stock valued at $1,184,000 after purchasing an additional 22,045 shares during the period. Legal & General Group Plc grew its holdings in United Insurance Holdings Corp. by 12.6% in the second quarter. Legal & General Group Plc now owns 34,069 shares of the insurance provider’s stock valued at $536,000 after purchasing an additional 3,816 shares during the period. Finally, Rhumbline Advisers grew its holdings in United Insurance Holdings Corp. by 1.3% in the second quarter. Rhumbline Advisers now owns 33,002 shares of the insurance provider’s stock valued at $519,000 after purchasing an additional 425 shares during the period. Institutional investors and hedge funds own 29.32% of the company’s stock.

United Insurance Holdings Corp. (UIHC) opened at 16.79 on Tuesday. The stock has a 50 day moving average price of $15.89 and a 200-day moving average price of $15.76. The stock has a market capitalization of $714.20 million, a P/E ratio of 111.19 and a beta of 1.59. United Insurance Holdings Corp. has a 12-month low of $9.52 and a 12-month high of $17.81.

Several brokerages recently commented on UIHC. ValuEngine raised shares of United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Zacks Investment Research upgraded shares of United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. BidaskClub upgraded shares of United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Wells Fargo & Company reissued a “buy” rating on shares of United Insurance Holdings Corp. in a research note on Wednesday, August 9th. Finally, JMP Securities raised shares of United Insurance Holdings Corp. from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $16.17.

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About United Insurance Holdings Corp.

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.

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

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