According to Zacks, “United Insurance Holdings Corp., together with its subsidiaries, operates as a property and casualty insurance company. It primarily offers homeowners and dwelling fire insurance policies, as well as provides flood insurance through the National Flood Insurance Program. From its headquarters in St. Petersburg, United’s team of dedicated employees manages a completely integrated insurance company, including sales, underwriting, policyholder service and claims. It principally markets its products through insurance agents. “
A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company reissued a sell rating and issued a $4.50 price objective on shares of United Insurance in a research note on Thursday, August 5th. Raymond James cut United Insurance from an outperform rating to a market perform rating in a report on Tuesday, August 10th.
United Insurance (NASDAQ:UIHC) last released its quarterly earnings data on Wednesday, August 4th. The insurance provider reported ($0.57) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.72). The firm had revenue of $153.14 million during the quarter, compared to analysts’ expectations of $152.98 million. United Insurance had a negative net margin of 19.36% and a negative return on equity of 45.54%. As a group, equities research analysts expect that United Insurance will post -1.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 17th. Shareholders of record on Tuesday, August 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $0.24 annualized dividend and a dividend yield of 5.67%. United Insurance’s dividend payout ratio is currently -8.30%.
In related news, insider Brooke Shirazi acquired 25,000 shares of the business’s stock in a transaction dated Tuesday, September 28th. The shares were acquired at an average cost of $3.52 per share, for a total transaction of $88,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alec Poitevint II bought 36,874 shares of the stock in a transaction that occurred on Tuesday, September 21st. The stock was bought at an average price of $3.17 per share, with a total value of $116,890.58. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 195,892 shares of company stock valued at $643,554. Insiders own 53.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of United Insurance by 7.0% in the 1st quarter. BlackRock Inc. now owns 3,667,269 shares of the insurance provider’s stock worth $26,441,000 after buying an additional 241,166 shares during the period. Invesco Ltd. increased its stake in United Insurance by 12.1% during the second quarter. Invesco Ltd. now owns 537,185 shares of the insurance provider’s stock worth $3,062,000 after acquiring an additional 57,880 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in United Insurance by 35.0% during the second quarter. Parametric Portfolio Associates LLC now owns 172,569 shares of the insurance provider’s stock worth $984,000 after acquiring an additional 44,753 shares during the last quarter. Morgan Stanley raised its holdings in shares of United Insurance by 57.1% in the 2nd quarter. Morgan Stanley now owns 114,532 shares of the insurance provider’s stock worth $653,000 after purchasing an additional 41,612 shares during the period. Finally, Guggenheim Capital LLC lifted its stake in shares of United Insurance by 153.0% in the 1st quarter. Guggenheim Capital LLC now owns 58,074 shares of the insurance provider’s stock valued at $419,000 after purchasing an additional 35,122 shares in the last quarter. Institutional investors and hedge funds own 29.76% of the company’s stock.
United Insurance Company Profile
United Insurance Holdings Corp. engages in the residential personal and commercial property and casualty insurance business. It offers insurance relating to homeowners, landlord and seasonal, condominium, flood, renters, and commercial residential. The company was founded in 1999 and is headquartered in St.
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