United Insurance Holdings Corp. (NASDAQ:UIHC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

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. “

UIHC has been the topic of several other research reports. BidaskClub raised United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a report on Friday. JMP Securities raised United Insurance Holdings Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday. ValuEngine raised United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of United Insurance Holdings Corp. in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $16.17.

United Insurance Holdings Corp. (NASDAQ UIHC) opened at 16.14 on Friday. United Insurance Holdings Corp. has a 12-month low of $9.52 and a 12-month high of $17.81. The firm’s 50-day moving average price is $15.88 and its 200-day moving average price is $15.67. The company has a market cap of $674.64 million, a P/E ratio of 106.89 and a beta of 1.61.

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In other 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 purchased at an average price of $15.03 per share, with a total value of $52,890.57. Following the acquisition, the director now owns 20,000 shares in the company, valued at $300,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. 22.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of United Insurance Holdings Corp. during the first quarter valued at approximately $144,000. Thrivent Financial For Lutherans acquired a new stake in shares of United Insurance Holdings Corp. during the first quarter valued at approximately $160,000. Citadel Advisors LLC acquired a new stake in shares of United Insurance Holdings Corp. during the first quarter valued at approximately $177,000. Texas Permanent School Fund boosted its stake in shares of United Insurance Holdings Corp. by 2.0% in the second quarter. Texas Permanent School Fund now owns 13,108 shares of the insurance provider’s stock valued at $206,000 after buying an additional 256 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in shares of United Insurance Holdings Corp. by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 15,198 shares of the insurance provider’s stock valued at $242,000 after buying an additional 2,294 shares during the last quarter. Institutional investors own 27.80% of the company’s stock.

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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