BidaskClub Upgrades United Insurance (NASDAQ:UIHC) to “Hold”

BidaskClub upgraded shares of United Insurance (NASDAQ:UIHC) from a sell rating to a hold rating in a report issued on Saturday morning, BidAskClub reports.

Several other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of United Insurance from a hold rating to a strong sell rating in a report on Saturday, July 27th. Wells Fargo & Co set a $15.00 target price on shares of United Insurance and gave the company a hold rating in a report on Friday, July 19th. Raymond James dropped their target price on shares of United Insurance from $18.00 to $15.00 and set an outperform rating for the company in a report on Monday, August 5th. Finally, ValuEngine downgraded shares of United Insurance from a hold rating to a sell rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $17.75.

UIHC stock opened at $12.81 on Friday. The firm has a market cap of $522.66 million, a PE ratio of 33.71, a PEG ratio of 0.93 and a beta of 1.28. The firm’s 50 day moving average price is $12.73 and its 200-day moving average price is $14.75. United Insurance has a one year low of $10.72 and a one year high of $22.43.

United Insurance (NASDAQ:UIHC) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.17). United Insurance had a negative net margin of 2.09% and a negative return on equity of 2.94%. The firm had revenue of $202.05 million for the quarter, compared to analysts’ expectations of $201.52 million. On average, sell-side analysts forecast that United Insurance will post 0.65 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Wednesday, August 14th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.24 annualized dividend and a yield of 1.87%. United Insurance’s dividend payout ratio (DPR) is presently 63.16%.

In other United Insurance news, insider John Scott St purchased 4,258 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired 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 approximately $79,983.36. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Patrick Maroney purchased 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of $11.75 per share, with a total value of $35,250.00. Following the purchase, the director now owns 7,750 shares of the company’s stock, valued at $91,062.50. The disclosure for this purchase can be found here. Insiders purchased a total of 11,960 shares of company stock valued at $141,306 in the last quarter. 52.50% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Comerica Bank grew its stake in shares of United Insurance by 4.5% in the first quarter. Comerica Bank now owns 21,411 shares of the insurance provider’s stock worth $346,000 after acquiring an additional 927 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in shares of United Insurance by 7.7% in the second quarter. Wedge Capital Management L L P NC now owns 15,244 shares of the insurance provider’s stock worth $217,000 after acquiring an additional 1,093 shares in the last quarter. 6 Meridian grew its stake in shares of United Insurance by 3.0% in the second quarter. 6 Meridian now owns 43,438 shares of the insurance provider’s stock worth $619,000 after acquiring an additional 1,257 shares in the last quarter. United Capital Financial Advisers LLC grew its stake in shares of United Insurance by 0.4% in the second quarter. United Capital Financial Advisers LLC now owns 304,272 shares of the insurance provider’s stock worth $4,339,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of United Insurance by 183.6% in the second quarter. Bank of Montreal Can now owns 2,408 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 1,559 shares in the last quarter. Institutional investors and hedge funds own 37.56% of the company’s stock.

About United Insurance

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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