Zacks Investment Research cut shares of United Insurance (NASDAQ:UIHC) from a hold rating to a sell rating in a report released on Wednesday 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 equities analysts also recently commented on the stock. ValuEngine downgraded shares of United Insurance from a buy rating to a hold rating in a research note on Wednesday, March 7th. BidaskClub upgraded shares of United Insurance from a sell rating to a hold rating in a research note on Friday, March 2nd. Wells Fargo restated a buy rating and set a $20.50 price objective on shares of United Insurance in a research note on Wednesday, February 21st. Finally, Keefe, Bruyette & Woods set a $21.00 price objective on shares of United Insurance and gave the stock a buy rating in a research note on Monday, January 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. United Insurance currently has a consensus rating of Hold and a consensus price target of $21.17.
United Insurance (NASDAQ:UIHC) last posted its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.20. United Insurance had a net margin of 1.55% and a return on equity of 7.67%. The company had revenue of $181.97 million during the quarter, compared to the consensus estimate of $174.08 million. research analysts anticipate that United Insurance will post 2.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 14th. Investors of record on Wednesday, March 7th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $0.24 annualized dividend and a yield of 1.25%. United Insurance’s dividend payout ratio (DPR) is currently 25.81%.
A number of large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in United Insurance by 10.6% in the 3rd quarter. California State Teachers Retirement System now owns 33,385 shares of the insurance provider’s stock valued at $544,000 after purchasing an additional 3,200 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted 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 valued at $126,000 after purchasing an additional 3,500 shares during the last quarter. BNP Paribas Arbitrage SA lifted 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 valued at $165,000 after purchasing an additional 4,754 shares during the last quarter. Rhumbline Advisers lifted its stake in United Insurance by 23.7% in the 4th quarter. Rhumbline Advisers now owns 43,534 shares of the insurance provider’s stock valued at $751,000 after purchasing an additional 8,337 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in United Insurance in the 4th quarter valued at about $149,000. Institutional investors and hedge funds own 32.09% of the company’s stock.
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United Insurance Company 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. It offers single-family homeowners, dwelling fire, renters, condominium unit owners, and commercial residential insurance policies, as well as federal flood, equipment breakdown, and identity theft insurance policies.
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