United Insurance (NASDAQ:UIHC) Rating Increased to Hold at BidaskClub

United Insurance (NASDAQ:UIHC) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

UIHC has been the topic of a number of other reports. ValuEngine cut United Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Wells Fargo & Co set a $15.00 target price on United Insurance and gave the stock a “hold” rating in a report on Friday, July 19th. Raymond James dropped their price objective 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. Finally, Zacks Investment Research cut United Insurance from a “hold” rating to a “strong sell” rating in a research note on Saturday, July 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $17.75.

Shares of UIHC opened at $12.09 on Friday. United Insurance has a 12-month low of $10.72 and a 12-month high of $22.43. The business’s fifty day moving average is $12.88 and its 200 day moving average is $14.81. The stock has a market cap of $501.05 million, a P/E ratio of 31.82, a P/E/G ratio of 0.89 and a beta of 1.28.

United Insurance (NASDAQ:UIHC) last issued its earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.17). United Insurance had a negative return on equity of 2.94% and a negative net margin of 2.09%. The firm had revenue of $202.05 million during the quarter, compared to the consensus estimate of $201.52 million. Analysts anticipate that United Insurance will post 0.65 earnings per share for the current fiscal year.

In related news, Director Alec Poitevint II acquired 25,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $13.73 per share, for a total transaction of $343,250.00. Following the purchase, the director now owns 25,000 shares in the company, valued at $343,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Patrick Maroney acquired 3,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average price of $11.75 per share, for a total transaction of $35,250.00. Following the completion of the purchase, the director now owns 7,750 shares in the company, valued at approximately $91,062.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 35,258 shares of company stock worth $464,592. Company insiders own 52.50% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Walleye Trading Advisors LLC purchased a new position in United Insurance during the 2nd quarter valued at about $1,015,000. Walleye Trading LLC purchased a new position in shares of United Insurance during the second quarter worth about $505,000. Susquehanna International Group LLP grew its holdings in shares of United Insurance by 143.2% during the second quarter. Susquehanna International Group LLP now owns 34,050 shares of the insurance provider’s stock worth $486,000 after purchasing an additional 112,850 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in shares of United Insurance during the second quarter worth about $2,593,000. Finally, Jane Street Group LLC purchased a new position in shares of United Insurance during the second quarter worth about $372,000. Institutional investors and hedge funds own 37.78% 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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