United Insurance (NASDAQ:UIHC) Stock Rating Upgraded by Zacks Investment Research

United Insurance (NASDAQ:UIHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

Other equities research analysts have also recently issued research reports about the stock. ValuEngine raised shares of United Insurance from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Wells Fargo & Co reissued a “hold” rating and set a $13.00 price objective on shares of United Insurance in a report on Wednesday, October 16th. BidaskClub raised United Insurance from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Raymond James lowered their target price on United Insurance from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.00.

Shares of UIHC traded down $0.11 on Tuesday, reaching $12.54. 2,132 shares of the company’s stock traded hands, compared to its average volume of 88,634. The stock’s 50 day simple moving average is $12.66 and its two-hundred day simple moving average is $13.17. The stock has a market cap of $548.65 million, a PE ratio of 33.00 and a beta of 1.17. United Insurance has a 52-week low of $10.72 and a 52-week high of $19.54.

United Insurance (NASDAQ:UIHC) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $1.33. The firm had revenue of $204.97 million during the quarter, compared to the consensus estimate of $206.18 million. United Insurance had a negative return on equity of 5.55% and a negative net margin of 4.12%. As a group, analysts forecast that United Insurance will post -0.37 earnings per share for the current year.

In other United Insurance news, Director Sherrill W. Hudson bought 10,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was purchased at an average price of $12.69 per share, for a total transaction of $126,900.00. Following the completion of the transaction, the director now directly owns 148,403 shares of the company’s stock, valued at $1,883,234.07. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 12,934 shares of company stock valued at $164,585 in the last quarter. Company insiders own 52.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of United Insurance by 165.2% in the third quarter. Millennium Management LLC now owns 367,033 shares of the insurance provider’s stock worth $5,134,000 after buying an additional 228,656 shares in the last quarter. Barclays PLC raised its holdings in shares of United Insurance by 4.7% during the 3rd quarter. Barclays PLC now owns 27,933 shares of the insurance provider’s stock valued at $391,000 after buying an additional 1,259 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of United Insurance during the 3rd quarter valued at about $254,000. Polaris Capital Management LLC lifted its position in United Insurance by 11.8% in the 3rd quarter. Polaris Capital Management LLC now owns 190,851 shares of the insurance provider’s stock worth $2,670,000 after buying an additional 20,200 shares during the last quarter. Finally, Cullen Capital Management LLC lifted its position in United Insurance by 37.8% in the 3rd quarter. Cullen Capital Management LLC now owns 16,670 shares of the insurance provider’s stock worth $233,000 after buying an additional 4,570 shares during the last quarter. Institutional investors own 35.67% of the company’s stock.

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.

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