United Insurance Holdings Corp. (NASDAQ:UIHC) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of United Insurance Holdings Corp. in a research note on Thursday, April 6th. Zacks Investment Research downgraded United Insurance Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Finally, ValuEngine upgraded United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three analysts have rated the stock with a sell rating, one has given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. United Insurance Holdings Corp. presently has a consensus rating of “Hold” and an average target price of $16.17.

Shares of United Insurance Holdings Corp. (UIHC) traded up 0.597% on Tuesday, hitting $16.015. The company had a trading volume of 33,950 shares. The company has a market capitalization of $344.40 million, a P/E ratio of 53.206 and a beta of 1.61. United Insurance Holdings Corp. has a 12-month low of $9.52 and a 12-month high of $17.81. The firm has a 50-day moving average price of $16.01 and a 200 day moving average price of $15.61.

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In other news, insider Andrew Swenson purchased 4,000 shares of United Insurance Holdings Corp. stock in a transaction that occurred on Friday, May 12th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $60,000.00. Following the purchase, the insider now directly owns 30,017 shares of the company’s stock, valued at approximately $450,255. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alec Poitevint II purchased 12,276 shares of United Insurance Holdings Corp. stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average price of $14.73 per share, with a total value of $180,825.48. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $294,600. The disclosure for this purchase can be found here. Insiders purchased a total of 24,000 shares of company stock valued at $356,791 over the last 90 days. 22.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Doyle Wealth Management purchased a new stake in United Insurance Holdings Corp. during the first quarter valued at about $386,000. State Street Corp increased its stake in 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 valued at $4,992,000 after buying an additional 25,846 shares during the period. Rafferty Asset Management LLC purchased a new stake in United Insurance Holdings Corp. during the first quarter valued at about $817,000. Pitcairn Co. purchased a new stake in United Insurance Holdings Corp. during the first quarter valued at about $338,000. Finally, Globeflex Capital L P purchased a new stake in United Insurance Holdings Corp. during the first quarter valued at about $532,000. Institutional investors and hedge funds own 28.10% of the company’s stock.

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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