Zacks Investment Research Downgrades United Insurance (UIHC) to Sell

Zacks Investment Research lowered shares of United Insurance (NASDAQ:UIHC) from a hold rating to a sell rating in a research note issued to investors on Friday 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 analysts also recently issued reports on UIHC. BidaskClub downgraded United Insurance from a hold rating to a sell rating in a research report on Wednesday, July 11th. Wells Fargo & Co reaffirmed a buy rating on shares of United Insurance in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. United Insurance currently has an average rating of Buy and a consensus target price of $22.00.

NASDAQ:UIHC opened at $21.13 on Friday. United Insurance has a 1 year low of $15.30 and a 1 year high of $22.43. The firm has a market capitalization of $958.36 million, a price-to-earnings ratio of 22.72, a PEG ratio of 0.66 and a beta of 1.64.

United Insurance (NASDAQ:UIHC) last released its earnings results on Wednesday, August 1st. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.18). United Insurance had a return on equity of 8.35% and a net margin of 3.08%. The firm had revenue of $182.21 million during the quarter, compared to analysts’ expectations of $221.89 million. As a group, equities analysts predict that United Insurance will post 1.7 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of UIHC. SG Americas Securities LLC bought a new position in shares of United Insurance in the second quarter worth $101,000. KBC Group NV bought a new position in shares of United Insurance in the first quarter worth $151,000. State Board of Administration of Florida Retirement System bought a new position in shares of United Insurance in the second quarter worth $424,000. JPMorgan Chase & Co. boosted its holdings in shares of United Insurance by 216.7% in the first quarter. JPMorgan Chase & Co. now owns 50,037 shares of the insurance provider’s stock worth $958,000 after acquiring an additional 34,239 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in shares of United Insurance by 5.6% in the first quarter. Ancora Advisors LLC now owns 70,545 shares of the insurance provider’s stock worth $1,350,000 after acquiring an additional 3,726 shares during the period. 32.71% of the stock is owned by hedge funds and other institutional investors.

About United Insurance

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.

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