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

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. Wells Fargo & Co reissued a “buy” rating and set a $18.00 target price on shares of United Insurance in a research report on Tuesday, November 7th. BidaskClub raised shares of United Insurance from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $20.00 target price on shares of United Insurance in a research report on Friday, December 22nd. Finally, ValuEngine cut shares of United Insurance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. United Insurance currently has a consensus rating of “Buy” and an average price target of $18.67.

United Insurance (UIHC) traded up $0.22 during trading on Friday, hitting $18.79. 93,899 shares of the company’s stock traded hands, compared to its average volume of 221,356. United Insurance has a 1 year low of $13.05 and a 1 year high of $18.86. The company has a market cap of $803.34, a PE ratio of -23.49, a P/E/G ratio of 0.48 and a beta of 1.54.

In related news, Director Michael Hogan purchased 2,500 shares of the firm’s stock in a transaction dated 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 purchase, the director now directly owns 57,438 shares in the company, valued at approximately $944,855.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alec Poitevint II purchased 1,500 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were bought at an average price of $16.71 per share, with a total value of $25,065.00. Following the purchase, the director now owns 20,000 shares in the company, valued at $334,200. The disclosure for this purchase can be found here. Company insiders own 22.60% of the company’s stock.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of United Insurance during the 2nd quarter worth approximately $330,000. Vanguard Group Inc. grew its stake in United Insurance by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock valued at $15,376,000 after buying an additional 35,477 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in United Insurance by 3.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,004 shares of the insurance provider’s stock valued at $12,679,000 after buying an additional 24,555 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in United Insurance by 133.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 236,368 shares of the insurance provider’s stock valued at $3,718,000 after buying an additional 135,233 shares in the last quarter. Finally, Icon Advisers Inc. Co. grew its stake in United Insurance by 30.4% in the 2nd quarter. Icon Advisers Inc. Co. now owns 93,600 shares of the insurance provider’s stock valued at $1,472,000 after buying an additional 21,800 shares in the last quarter. Institutional investors own 31.54% of the company’s stock.

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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.

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