United Insurance (NASDAQ:UIHC) Lifted to “Hold” at BidaskClub
Several other equities analysts also recently commented on UIHC. Raymond James cut their price target on shares of United Insurance from $18.00 to $15.00 and set an outperform rating on the stock in a report on Monday, August 5th. Wells Fargo & Co set a $15.00 price target on shares of United Insurance and gave the company a hold rating in a report on Friday, July 19th. ValuEngine downgraded shares of United Insurance from a hold rating to a sell rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research downgraded shares of United Insurance from a hold rating to a strong sell rating in a report on Saturday, July 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $17.75.
Shares of NASDAQ:UIHC opened at $12.49 on Friday. The company has a market capitalization of $501.05 million, a price-to-earnings ratio of 32.87, a PEG ratio of 0.89 and a beta of 1.28. United Insurance has a 12 month low of $10.72 and a 12 month high of $22.43. The firm’s 50-day moving average is $12.76 and its 200 day moving average is $14.77.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.92%. United Insurance’s dividend payout ratio is currently 63.16%.
In related news, Director Patrick Maroney bought 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $11.75 per share, for a total transaction of $35,250.00. Following the purchase, the director now directly owns 7,750 shares of the company’s stock, valued at $91,062.50. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 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 price of $11.79 per share, for a total transaction of $50,201.82. Following the completion of the purchase, the insider now directly owns 6,784 shares in the company, valued at $79,983.36. The disclosure for this purchase can be found here. Insiders acquired a total of 11,960 shares of company stock worth $141,306 over the last 90 days. Insiders own 52.50% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its position in shares of United Insurance by 183.6% in the 2nd quarter. Bank of Montreal Can now owns 2,408 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 1,559 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of United Insurance in the 2nd quarter worth approximately $45,000. Aperio Group LLC purchased a new stake in shares of United Insurance in the 2nd quarter worth approximately $59,000. BNP Paribas Arbitrage SA lifted its position in shares of United Insurance by 2,276.7% in 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 period. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of United Insurance in the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 37.56% 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.
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