Insider Buying: United Insurance Holdings Corp. major shareholder Acquires 69,323 Shares of Stock (UIHC)
United Insurance Holdings Corp. (NASDAQ:UIHC) major shareholder Kern Michael Davis acquired 69,323 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average price of $14.76 per share, with a total value of $1,023,207.48. Following the transaction, the insider now directly owns 234,634 shares in the company, valued at approximately $3,463,198. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
United Insurance Holdings Corp. (NASDAQ:UIHC) traded down 1.81% during mid-day trading on Monday, hitting $14.66. The stock had a trading volume of 368,558 shares. United Insurance Holdings Corp. has a one year low of $7.35 and a one year high of $18.56. The stock’s 50-day moving average is $16.76 and its 200-day moving average is $15.39. The company has a market cap of $304.0 million and a price-to-earnings ratio of 8.15.
United Insurance Holdings Corp. (NASDAQ:UIHC) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. Analysts expect that United Insurance Holdings Corp. will post $1.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Friday, August 15th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.09%.
Separately, analysts at Zacks upgraded shares of United Insurance Holdings Corp. from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $18.90 price target on the stock.
United Insurance Holdings Corp. (NASDAQ:UIHC) through the Company’s wholly owned subsidiaries, it writes and service property and casualty insurance policies in Florida, South Carolina and Massachusetts.
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