United Insurance Holdings Corp (NASDAQ:UIHC) saw unusually-high trading volume on Friday . Approximately 1,353,532 shares changed hands during mid-day trading, an increase of 986% from the previous session’s volume of 124,687 shares.The stock last traded at $12.09 and had previously closed at $11.59.
UIHC has been the subject of several recent analyst reports. Wells Fargo & Co set a $15.00 price target on United Insurance and gave the company a “hold” rating in a report on Friday, July 19th. Raymond James lowered their price target on United Insurance from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Zacks Investment Research cut United Insurance from a “hold” rating to a “strong sell” rating in a report on Saturday, July 27th. ValuEngine cut United Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, BidaskClub upgraded United Insurance from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.75.
The company has a market cap of $494.13 million, a PE ratio of 31.82, a PEG ratio of 0.88 and a beta of 1.28. The firm has a fifty day simple moving average of $12.88 and a 200 day simple moving average of $14.81.
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 the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $201.52 million. Sell-side analysts anticipate that United Insurance Holdings Corp will post 0.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Wednesday, August 14th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Tuesday, August 13th. United Insurance’s payout ratio is currently 63.16%.
In other news, Director Alec Poitevint II bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was acquired at an average price of $13.73 per share, for a total transaction of $343,250.00. Following the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $343,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patrick Maroney bought 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $11.75 per share, with a total value of $35,250.00. Following the acquisition, the director now directly owns 7,750 shares in the company, valued at approximately $91,062.50. The disclosure for this purchase can be found here. Insiders have bought a total of 35,258 shares of company stock valued at $464,592 in the last quarter. Company insiders own 52.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in United Insurance during the 2nd quarter worth approximately $2,593,000. State of Wisconsin Investment Board lifted its position in United Insurance by 29.7% during the 1st quarter. State of Wisconsin Investment Board now owns 599,100 shares of the insurance provider’s stock worth $9,526,000 after acquiring an additional 137,100 shares in the last quarter. Invesco Ltd. lifted its position in United Insurance by 14.8% during the 2nd quarter. Invesco Ltd. now owns 1,061,046 shares of the insurance provider’s stock worth $15,131,000 after acquiring an additional 136,526 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in United Insurance by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,583,176 shares of the insurance provider’s stock worth $26,312,000 after acquiring an additional 127,709 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in United Insurance by 111.0% during the 2nd quarter. Citadel Advisors LLC now owns 11,789 shares of the insurance provider’s stock worth $168,000 after acquiring an additional 118,615 shares in the last quarter. Institutional investors and hedge funds own 37.78% of the company’s stock.
United Insurance Company Profile (NASDAQ:UIHC)
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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