United Insurance Holdings Corp. (UIHC) Downgraded to “Hold” at Zacks Investment Research
United Insurance Holdings Corp. (NASDAQ:UIHC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “United Insurance Holdings Corp., together with its subsidiaries, operates as a property and casualty insurance company. It primarily offers homeowners and dwelling fire insurance policies, as well as provides flood insurance through the National Flood Insurance Program. From its headquarters in St. Petersburg, United’s team of dedicated employees manages a completely integrated insurance company, including sales, underwriting, policyholder service and claims. It principally markets its products through insurance agents. “
Shares of United Insurance Holdings Corp. (NASDAQ:UIHC) traded down 2.02% on Tuesday, hitting $15.05. The stock had a trading volume of 102,670 shares. United Insurance Holdings Corp. has a 52 week low of $13.46 and a 52 week high of $20.04. The company has a market capitalization of $323.18 million, a price-to-earnings ratio of 9.37 and a beta of 1.18. The company has a 50-day moving average of $15.98 and a 200 day moving average of $16.49.
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United Insurance Holdings Corp. (NASDAQ:UIHC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.05. United Insurance Holdings Corp. had a return on equity of 14.91% and a net margin of 8.29%. On average, equities research analysts predict that United Insurance Holdings Corp. will post $1.57 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of UIHC. Acrospire Investment Management LLC increased its position in United Insurance Holdings Corp. by 156.5% in the second quarter. Acrospire Investment Management LLC now owns 7,369 shares of the company’s stock worth $121,000 after buying an additional 4,496 shares during the period. BlackRock Advisors LLC increased its stake in shares of United Insurance Holdings Corp. by 5.0% in the second quarter. BlackRock Advisors LLC now owns 9,123 shares of the company’s stock valued at $149,000 after buying an additional 434 shares during the period. Alliancebernstein L.P. bought a new stake in shares of United Insurance Holdings Corp. during the second quarter valued at approximately $165,000. Analytic Investors LLC bought a new stake in shares of United Insurance Holdings Corp. during the second quarter valued at approximately $170,000. Finally, A.R.T. Advisors LLC bought a new stake in shares of United Insurance Holdings Corp. during the second quarter valued at approximately $194,000. 55.97% of the stock is currently owned by institutional investors and hedge funds.
United Insurance Holdings Corp. Company Profile
United Insurance Holdings Corp. is a property and casualty insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of agents and a group of insurance subsidiaries. The Company’s insurance subsidiary is United Property & Casualty Insurance Company.
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