United Insurance Holdings Corp. (NASDAQ:UIHC) Announces Earnings Results
United Insurance Holdings Corp. (NASDAQ:UIHC) released its quarterly earnings results on Tuesday. The insurance provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.13, reports. United Insurance Holdings Corp. had a return on equity of 2.64% and a net margin of 1.32%.
United Insurance Holdings Corp. (NASDAQ:UIHC) traded up 0.19% during trading on Tuesday, reaching $15.57. 66,544 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $15.92 and its 200-day moving average is $15.63. United Insurance Holdings Corp. has a 12-month low of $9.52 and a 12-month high of $17.81. The company has a market cap of $334.83 million, a P/E ratio of 51.73 and a beta of 1.61.
In related news, Director Alec Poitevint II acquired 3,519 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average cost of $15.03 per share, with a total value of $52,890.57. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $300,600. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrew Swenson acquired 4,000 shares of the business’s stock in a transaction on Friday, May 12th. The shares were bought at an average cost of $15.00 per share, with a total value of $60,000.00. Following the completion of the acquisition, the insider now owns 30,017 shares in the company, valued at $450,255. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 24,000 shares of company stock valued at $356,791. Insiders own 22.60% of the company’s stock.
UIHC has been the subject of a number of research reports. BidaskClub cut shares of United Insurance Holdings Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of United Insurance Holdings Corp. from a “hold” rating to a “strong sell” rating in a research note on Friday, July 14th. Finally, ValuEngine raised shares of United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Three research analysts have rated the stock with a sell rating, one has given a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. United Insurance Holdings Corp. presently has a consensus rating of “Hold” and a consensus target price of $16.17.
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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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