Zacks Investment Research Lowers United Insurance (UIHC) to Strong Sell

Zacks Investment Research cut shares of United Insurance (NASDAQ:UIHC) from a hold rating to a strong sell rating in a research note released on Saturday morning.

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 brokerages have also commented on UIHC. BidaskClub raised shares of United Insurance from a sell rating to a hold rating in a research report on Friday, December 29th. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $20.00 price objective on shares of United Insurance in a research report on Friday, December 22nd. ValuEngine lowered shares of United Insurance from a hold rating to a sell rating in a research report on Tuesday, October 17th. Finally, Wells Fargo & Co reaffirmed a buy rating and set a $18.00 price objective on shares of United Insurance in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $18.67.

United Insurance (NASDAQ:UIHC) traded down $0.09 during mid-day trading on Friday, reaching $18.19. 140,100 shares of the company’s stock were exchanged, compared to its average volume of 270,633. United Insurance has a one year low of $13.05 and a one year high of $18.67. The company has a market capitalization of $777.69, a PE ratio of -22.74, a price-to-earnings-growth ratio of 0.48 and a beta of 1.54.

In related news, Director Michael Hogan acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was acquired at an average price of $16.45 per share, with a total value of $41,125.00. Following the completion of the transaction, the director now owns 57,438 shares of the company’s stock, valued at $944,855.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alec Poitevint II acquired 1,500 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were bought at an average cost of $16.71 per share, with a total value of $25,065.00. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $334,200. The disclosure for this purchase can be found here. 22.60% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of UIHC. Great West Life Assurance Co. Can raised its position in United Insurance by 11.6% in the second quarter. Great West Life Assurance Co. Can now owns 31,265 shares of the insurance provider’s stock worth $492,000 after purchasing an additional 3,259 shares in the last quarter. Rhumbline Advisers raised its position in United Insurance by 1.3% in the second quarter. Rhumbline Advisers now owns 33,002 shares of the insurance provider’s stock worth $519,000 after purchasing an additional 425 shares in the last quarter. Legal & General Group Plc raised its position in United Insurance by 12.6% in the second quarter. Legal & General Group Plc now owns 34,069 shares of the insurance provider’s stock worth $536,000 after purchasing an additional 3,816 shares in the last quarter. Virginia Retirement Systems ET AL raised its position in United Insurance 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 purchasing an additional 800 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in United Insurance by 1.2% in the second quarter. Principal Financial Group Inc. now owns 136,561 shares of the insurance provider’s stock worth $2,148,000 after purchasing an additional 1,643 shares in the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

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United Insurance Company Profile

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.

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