Wells Fargo & Co Reaffirms Hold Rating for United Insurance (NASDAQ:UIHC)

Wells Fargo & Co reiterated their hold rating on shares of United Insurance (NASDAQ:UIHC) in a report issued on Wednesday, AnalystRatings.com reports. They currently have a $13.00 price target on the insurance provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Raymond James reduced their price target on shares of United Insurance from $18.00 to $15.00 and set an outperform rating on the stock in a research report on Monday, August 5th. ValuEngine cut shares of United Insurance from a strong-buy rating to a buy rating in a research report on Wednesday, October 2nd. Zacks Investment Research upgraded shares of United Insurance from a strong sell rating to a hold rating in a research report on Saturday, October 5th. Finally, BidaskClub cut shares of United Insurance from a buy rating to a hold rating in a research report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $15.33.

Shares of NASDAQ UIHC opened at $12.93 on Wednesday. United Insurance has a 1 year low of $10.72 and a 1 year high of $20.78. The company’s 50-day moving average is $13.22 and its 200 day moving average is $13.85. The stock has a market capitalization of $544.71 million, a P/E ratio of 34.01, a P/E/G ratio of 3.15 and a beta of 1.24.

United Insurance (NASDAQ:UIHC) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.17). United Insurance had a negative net margin of 2.09% and a negative return on equity of 2.94%. The company had revenue of $202.05 million for the quarter, compared to analysts’ expectations of $201.52 million. On average, equities analysts anticipate that United Insurance will post 0.2 EPS for the current year.

In other United Insurance news, insider John Scott St acquired 4,258 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $11.79 per share, with a total value of $50,201.82. Following the completion of the purchase, the insider now directly owns 6,784 shares of the company’s stock, valued at approximately $79,983.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Patrick Maroney acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $11.75 per share, for a total transaction of $35,250.00. Following the purchase, the director now directly owns 7,750 shares of the company’s stock, valued at $91,062.50. The disclosure for this purchase can be found here. Insiders have purchased 14,960 shares of company stock worth $140,456 in the last three months. 52.50% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of UIHC. 6 Meridian boosted its stake in United Insurance by 3.0% during the second quarter. 6 Meridian now owns 43,438 shares of the insurance provider’s stock worth $619,000 after acquiring an additional 1,257 shares in the last quarter. Foundry Partners LLC boosted its stake in United Insurance by 1.0% during the second quarter. Foundry Partners LLC now owns 369,355 shares of the insurance provider’s stock worth $5,267,000 after acquiring an additional 3,500 shares in the last quarter. AE Wealth Management LLC bought a new stake in United Insurance during the second quarter worth about $247,000. Schafer Cullen Capital Management Inc bought a new stake in United Insurance during the second quarter worth about $453,000. Finally, Cullen Capital Management LLC bought a new stake in United Insurance during the second quarter worth about $173,000. 36.81% of the stock is currently owned by institutional investors and hedge funds.

About United Insurance

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

Receive News & Ratings for United Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Insurance and related companies with MarketBeat.com's FREE daily email newsletter.