United Insurance (NASDAQ:UIHC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued 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. “

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $20.00 price target on shares of United Insurance in a report on Friday, December 22nd. Wells Fargo & Co restated a “buy” rating and set a $18.00 price target on shares of United Insurance in a report on Tuesday, November 7th. BidaskClub upgraded United Insurance from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, ValuEngine cut United Insurance from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $18.67.

Shares of United Insurance (UIHC) opened at $18.14 on Friday. The firm has a market capitalization of $759.73, a PE ratio of -22.67, a PEG ratio of 0.47 and a beta of 1.54. United Insurance has a twelve month low of $13.05 and a twelve month high of $18.32.

In related news, Director Alec Poitevint II bought 1,500 shares of United Insurance stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average cost of $16.71 per share, for a total transaction of $25,065.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $334,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Hogan bought 2,500 shares of United Insurance stock in a transaction that occurred on Tuesday, December 12th. The stock was bought at an average price of $16.45 per share, for a total transaction of $41,125.00. Following the completion of the acquisition, the director now directly owns 57,438 shares of the company’s stock, valued at $944,855.10. The disclosure for this purchase can be found here. Corporate insiders own 22.60% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in United Insurance by 3.8% in the second quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock valued at $15,376,000 after acquiring an additional 35,477 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in United Insurance by 14.8% in the third quarter. Dimensional Fund Advisors LP now owns 925,428 shares of the insurance provider’s stock valued at $15,084,000 after acquiring an additional 119,424 shares during the last quarter. Capital Returns Management LLC boosted its holdings in United Insurance by 140.9% in the second quarter. Capital Returns Management LLC now owns 604,653 shares of the insurance provider’s stock valued at $9,511,000 after acquiring an additional 353,700 shares during the last quarter. Franklin Resources Inc. boosted its holdings in United Insurance by 17.1% in the second quarter. Franklin Resources Inc. now owns 584,134 shares of the insurance provider’s stock valued at $9,189,000 after acquiring an additional 85,300 shares during the last quarter. Finally, State Street Corp boosted its holdings in United Insurance by 4.3% in the second quarter. State Street Corp now owns 371,275 shares of the insurance provider’s stock valued at $5,841,000 after acquiring an additional 15,179 shares during the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

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United Insurance 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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