United Insurance (UIHC) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of United Insurance (NASDAQ:UIHC) from a strong sell rating to a hold rating in a research note issued to investors on Friday.

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 research firms have also commented on UIHC. BidaskClub raised United Insurance from a sell rating to a hold rating in a research note 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 note on Friday, December 22nd. ValuEngine lowered United Insurance from a hold rating to a sell rating in a research note 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 note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. United Insurance currently has a consensus rating of Buy and a consensus target price of $19.00.

Shares of United Insurance (UIHC) opened at $18.79 on Friday. The firm has a market capitalization of $803.34, a price-to-earnings ratio of -23.49, a price-to-earnings-growth ratio of 0.45 and a beta of 1.54. United Insurance has a twelve month low of $13.05 and a twelve month high of $18.86.

United Insurance (NASDAQ:UIHC) last posted its quarterly earnings data on Monday, November 6th. The insurance provider reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.29. United Insurance had a negative return on equity of 2.29% and a negative net margin of 4.54%. research analysts anticipate that United Insurance will post 0.75 earnings per share for the current fiscal year.

In other United Insurance news, Director Alec Poitevint II purchased 1,500 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $16.71 per share, with a total value of $25,065.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $334,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Hogan purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was acquired at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the purchase, the director now owns 57,438 shares in the company, valued at approximately $944,855.10. The disclosure for this purchase can be found here. 22.60% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. First Quadrant L P CA acquired a new stake in United Insurance in the 3rd quarter worth about $101,000. Municipal Employees Retirement System of Michigan boosted its stake in United Insurance by 82.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock worth $126,000 after buying an additional 3,500 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in United Insurance by 88.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock worth $165,000 after buying an additional 4,754 shares during the last quarter. Thrivent Financial For Lutherans boosted its stake in United Insurance by 7.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock worth $169,000 after buying an additional 720 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in United Insurance in the 3rd quarter worth about $209,000. 31.54% of the stock is currently 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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