United Insurance Holdings Corp to Issue Quarterly Dividend of $0.06 (UIHC)

United Insurance Holdings Corp (NASDAQ:UIHC) declared a quarterly dividend on Tuesday, May 7th, Fidelity reports. Shareholders of record on Tuesday, May 14th will be paid a dividend of 0.06 per share by the insurance provider on Tuesday, May 21st. This represents a $0.24 annualized dividend and a yield of 1.65%. The ex-dividend date is Monday, May 13th.

United Insurance has increased its dividend by an average of 6.3% per year over the last three years. United Insurance has a payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect United Insurance to earn $1.58 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 15.2%.

Shares of NASDAQ UIHC opened at $14.58 on Friday. The stock has a market cap of $623.99 million, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 0.58 and a beta of 1.37. United Insurance has a 12 month low of $14.37 and a 12 month high of $22.43.

United Insurance (NASDAQ:UIHC) last issued its earnings results on Tuesday, May 7th. The insurance provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). The business had revenue of $191.97 million for the quarter, compared to analyst estimates of $196.90 million. United Insurance had a return on equity of 0.49% and a net margin of 0.18%. Sell-side analysts forecast that United Insurance will post 1.25 EPS for the current year.

UIHC has been the subject of several research analyst reports. ValuEngine downgraded United Insurance from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. BidaskClub downgraded United Insurance from a “hold” rating to a “sell” rating in a research note on Thursday, February 7th. Zacks Investment Research downgraded United Insurance from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Finally, Wells Fargo & Co downgraded United Insurance from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $17.00 in a research note on Wednesday. Two 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’s stock. The company currently has a consensus rating of “Hold” and an average price target of $19.33.

In related news, Director Alec Poitevint II bought 20,000 shares of United Insurance stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average cost of $15.86 per share, for a total transaction of $317,200.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $396,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Peed sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $16.23, for a total value of $129,840.00. Following the completion of the sale, the director now owns 2,006,836 shares in the company, valued at $32,570,948.28. The disclosure for this sale can be found here. In the last ninety days, insiders bought 23,080 shares of company stock valued at $366,743 and sold 44,000 shares valued at $717,840. Corporate insiders own 52.50% of the company’s stock.

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United Insurance Company Profile

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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Dividend History for United Insurance (NASDAQ:UIHC)

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