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

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. “

A number of other research analysts also recently issued reports on the company. ValuEngine upgraded United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. BidaskClub downgraded United Insurance Holdings Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. JMP Securities upgraded United Insurance Holdings Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 9th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of United Insurance Holdings Corp. in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $15.25.

United Insurance Holdings Corp. (NASDAQ UIHC) traded down 1.75% during midday trading on Thursday, reaching $16.24. The company’s stock had a trading volume of 102,118 shares. The company has a market cap of $690.80 million, a P/E ratio of 107.55 and a beta of 1.59. 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 $15.90 and a 200-day moving average price of $15.77.

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Several institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund boosted its position in shares of United Insurance Holdings Corp. by 2.0% in the 2nd quarter. Texas Permanent School Fund now owns 13,108 shares of the insurance provider’s stock worth $206,000 after purchasing an additional 256 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of United Insurance Holdings Corp. by 2.3% in the 2nd quarter. Capstone Asset Management Co. now owns 17,770 shares of the insurance provider’s stock worth $280,000 after purchasing an additional 400 shares in the last quarter. Rhumbline Advisers boosted its position in shares of United Insurance Holdings Corp. by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 33,002 shares of the insurance provider’s stock worth $519,000 after purchasing an additional 425 shares in the last quarter. Comerica Bank boosted its position in shares of United Insurance Holdings Corp. by 3.5% in the 1st quarter. Comerica Bank now owns 19,579 shares of the insurance provider’s stock worth $304,000 after purchasing an additional 670 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in shares of United Insurance Holdings Corp. by 7.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock worth $169,000 after purchasing an additional 720 shares in the last quarter. 29.32% 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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