Wells Fargo & Company MN Has $1.19 Million Holdings in United Insurance Holdings Corp (UIHC)

Wells Fargo & Company MN decreased its stake in United Insurance Holdings Corp (NASDAQ:UIHC) by 28.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 53,219 shares of the insurance provider’s stock after selling 20,897 shares during the period. Wells Fargo & Company MN’s holdings in United Insurance were worth $1,191,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of United Insurance in the 2nd quarter valued at $101,000. Schwab Charles Investment Management Inc. boosted its stake in United Insurance by 4.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 102,555 shares of the insurance provider’s stock worth $2,009,000 after purchasing an additional 4,107 shares during the period. BlackRock Inc. boosted its stake in United Insurance by 7.1% during the 2nd quarter. BlackRock Inc. now owns 2,906,265 shares of the insurance provider’s stock worth $56,905,000 after purchasing an additional 192,617 shares during the period. Dimensional Fund Advisors LP boosted its stake in United Insurance by 14.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,341,228 shares of the insurance provider’s stock worth $26,261,000 after purchasing an additional 165,789 shares during the period. Finally, Raymond James & Associates boosted its stake in United Insurance by 8.2% during the 2nd quarter. Raymond James & Associates now owns 265,120 shares of the insurance provider’s stock worth $5,191,000 after purchasing an additional 20,033 shares during the period. 34.35% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on UIHC shares. Keefe, Bruyette & Woods cut shares of United Insurance from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $23.00 to $18.00 in a research note on Monday, November 5th. BidaskClub cut shares of United Insurance from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Finally, Wells Fargo & Co reiterated a “buy” rating and set a $22.00 price target on shares of United Insurance in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.00.

Shares of NASDAQ:UIHC opened at $16.09 on Friday. The firm has a market cap of $700.65 million, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 0.44 and a beta of 1.56. United Insurance Holdings Corp has a 1-year low of $15.72 and a 1-year high of $22.43.

United Insurance (NASDAQ:UIHC) last issued its quarterly earnings results on Thursday, November 1st. The insurance provider reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.40). The business had revenue of $181.99 million for the quarter, compared to analyst estimates of $174.94 million. United Insurance had a return on equity of 9.33% and a net margin of 5.23%. Analysts forecast that United Insurance Holdings Corp will post 0.38 earnings per share for the current year.

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United Insurance Profile

United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential 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.

See Also: Rule of 72

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Institutional Ownership by Quarter for United Insurance (NASDAQ:UIHC)

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