United Insurance Holdings Corp (NASDAQ:UIHC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

A number of other equities research analysts also recently commented on UIHC. Zacks Investment Research raised United Insurance Holdings Corp from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Tuesday, March 14th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of United Insurance Holdings Corp in a research report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.17.

Shares of United Insurance Holdings Corp (NASDAQ UIHC) traded down 3.75% during mid-day trading on Wednesday, reaching $16.67. The company’s stock had a trading volume of 333,144 shares. The company’s 50-day moving average is $15.71 and its 200 day moving average is $15.44. United Insurance Holdings Corp has a 1-year low of $9.52 and a 1-year high of $17.85. The firm has a market capitalization of $358.49 million, a P/E ratio of 55.38 and a beta of 1.52.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 30th. Shareholders of record on Tuesday, May 23rd were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Friday, May 19th. United Insurance Holdings Corp’s dividend payout ratio (DPR) is presently 80.00%.

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In related news, Director Alec Poitevint II acquired 3,519 shares of United Insurance Holdings Corp stock in a transaction on Wednesday, May 17th. The shares were bought at an average price of $15.03 per share, for a total transaction of $52,890.57. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $300,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Andrew Swenson acquired 4,000 shares of United Insurance Holdings Corp stock in a transaction on Friday, May 12th. The shares were bought at an average price of $15.00 per share, for a total transaction of $60,000.00. Following the purchase, the insider now owns 30,017 shares of the company’s stock, valued at $450,255. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 24,000 shares of company stock valued at $356,791. 22.60% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in UIHC. Comerica Bank raised its position in United Insurance Holdings Corp by 5.6% in the fourth quarter. Comerica Bank now owns 18,909 shares of the insurance provider’s stock valued at $285,000 after buying an additional 999 shares during the period. State Street Corp raised its position in shares of United Insurance Holdings Corp by 8.5% in the fourth quarter. State Street Corp now owns 329,766 shares of the insurance provider’s stock worth $4,992,000 after buying an additional 25,846 shares during the period. Dimensional Fund Advisors LP raised its position in shares of United Insurance Holdings Corp by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 716,954 shares of the insurance provider’s stock worth $10,855,000 after buying an additional 34,312 shares during the period. Royce & Associates LP raised its position in shares of United Insurance Holdings Corp by 437.6% in the fourth quarter. Royce & Associates LP now owns 69,891 shares of the insurance provider’s stock worth $1,058,000 after buying an additional 56,891 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of United Insurance Holdings Corp by 123.2% in the fourth quarter. Franklin Resources Inc. now owns 499,534 shares of the insurance provider’s stock worth $7,563,000 after buying an additional 275,712 shares during the period. 28.51% of the stock is owned by hedge funds and other institutional investors.

About United Insurance Holdings Corp

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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