BidaskClub lowered shares of United Insurance (NASDAQ:UIHC) from a hold rating to a sell rating in a report issued on Tuesday morning.
Several other research analysts also recently commented on UIHC. Wells Fargo set a $21.00 price objective on United Insurance and gave the stock a buy rating in a report on Monday, April 2nd. Zacks Investment Research downgraded United Insurance from a hold rating to a sell rating in a report on Wednesday, March 28th. Keefe, Bruyette & Woods set a $21.00 price objective on United Insurance and gave the stock a buy rating in a report on Monday, January 15th. Finally, ValuEngine upgraded United Insurance from a hold rating to a buy rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $21.33.
UIHC opened at $18.41 on Tuesday. The firm has a market cap of $777.12, a price-to-earnings ratio of 19.98, a PEG ratio of 0.43 and a beta of 1.58. United Insurance has a 52 week low of $13.60 and a 52 week high of $20.40.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 14th. Shareholders of record on Wednesday, March 7th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, March 6th. This represents a $0.24 annualized dividend and a yield of 1.30%. United Insurance’s payout ratio is currently 25.81%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan boosted its position in United Insurance by 82.9% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 3,500 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in United Insurance during the 4th quarter valued at $149,000. BNP Paribas Arbitrage SA boosted its position in United Insurance by 88.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after acquiring an additional 4,754 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in United Insurance during the 4th quarter valued at $214,000. Finally, Unison Advisors LLC bought a new stake in United Insurance during the 4th quarter valued at $262,000. Institutional investors own 32.10% 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 and commercial property, and casualty insurance policies in the United States. It offers single-family homeowners, dwelling fire, renters, condominium unit owners, and commercial residential insurance policies, as well as federal flood, equipment breakdown, and identity theft insurance policies.
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