Wall Street analysts expect United Insurance Holdings Corp (NASDAQ:UIHC) to post $174.08 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for United Insurance’s earnings, with the highest sales estimate coming in at $203.40 million and the lowest estimate coming in at $144.76 million. United Insurance reported sales of $131.36 million in the same quarter last year, which indicates a positive year over year growth rate of 32.5%. The firm is scheduled to announce its next earnings report on Monday, February 19th.
On average, analysts expect that United Insurance will report full year sales of $174.08 million for the current year, with estimates ranging from $617.15 million to $675.80 million. For the next year, analysts expect that the business will report sales of $802.97 million per share, with estimates ranging from $781.43 million to $824.50 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover United Insurance.
Several brokerages recently issued reports on UIHC. Wells Fargo & Company reiterated a “buy” rating and issued a $18.00 target price on shares of United Insurance in a research note on Tuesday, November 7th. ValuEngine downgraded shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Zacks Investment Research downgraded shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.00.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 22nd were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $0.24 annualized dividend and a yield of 1.46%. United Insurance’s dividend payout ratio (DPR) is currently -30.00%.
In related news, Director Michael Hogan acquired 2,500 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was purchased at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the transaction, the director now directly owns 57,438 shares of the company’s stock, valued at approximately $944,855.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 22.60% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Lido Advisors LLC acquired a new stake in United Insurance during the third quarter worth approximately $2,877,000. California State Teachers Retirement System lifted its position in United Insurance by 10.6% during the third quarter. California State Teachers Retirement System now owns 33,385 shares of the insurance provider’s stock worth $544,000 after acquiring an additional 3,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in United Insurance by 14.8% during the third quarter. Dimensional Fund Advisors LP now owns 925,428 shares of the insurance provider’s stock worth $15,084,000 after acquiring an additional 119,424 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in United Insurance by 225.6% during the third quarter. Schwab Charles Investment Management Inc. now owns 79,456 shares of the insurance provider’s stock worth $1,296,000 after acquiring an additional 55,056 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in United Insurance by 13.1% during the third quarter. Ameriprise Financial Inc. now owns 105,747 shares of the insurance provider’s stock worth $1,723,000 after acquiring an additional 12,282 shares during the last quarter. Hedge funds and other institutional investors own 31.58% of the company’s stock.
About United Insurance
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for United Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Insurance and related companies with MarketBeat.com's FREE daily email newsletter.