United Insurance Holdings Corp (NASDAQ:UIHC) declared a quarterly dividend on Tuesday, July 28th, Zacks reports. Shareholders of record on Tuesday, August 11th will be paid a dividend of 0.06 per share by the insurance provider on Tuesday, August 18th. This represents a $0.24 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Monday, August 10th.
United Insurance has raised its dividend by an average of 4.4% annually over the last three years. United Insurance has a payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect United Insurance to earn $0.95 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 25.3%.
Shares of NASDAQ UIHC traded down $0.16 during midday trading on Thursday, reaching $7.38. The stock had a trading volume of 526 shares, compared to its average volume of 60,049. United Insurance has a 12-month low of $6.99 and a 12-month high of $14.24. The stock has a 50-day moving average of $7.61 and a 200-day moving average of $8.80. The company has a market capitalization of $328.82 million, a price-to-earnings ratio of -6.18 and a beta of 0.82.
In other United Insurance news, Director Alec Poitevint II purchased 9,900 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was bought at an average cost of $7.47 per share, with a total value of $73,953.00. Following the acquisition, the director now owns 35,000 shares of the company’s stock, valued at $261,450. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 18,879 shares of company stock valued at $141,183 over the last 90 days. 53.10% of the stock is currently owned by insiders.
A number of equities analysts have commented on UIHC shares. Raymond James cut their price objective on shares of United Insurance from $12.00 to $10.50 and set an “outperform” rating on the stock in a report on Friday, April 3rd. BidaskClub lowered shares of United Insurance from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 13th. Finally, Zacks Investment Research cut United Insurance from a “buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. United Insurance presently has an average rating of “Hold” and a consensus target price of $10.42.
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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