Zacks Investment Research Downgrades United Insurance (UIHC) to Hold

United Insurance (NASDAQ:UIHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” 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 research analysts have also issued reports about the company. ValuEngine lowered United Insurance from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BidaskClub raised United Insurance from a “hold” rating to a “buy” rating in a research report on Friday. Keefe, Bruyette & Woods set a $21.00 price objective on United Insurance and gave the stock a “buy” rating in a research report on Monday, January 15th. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $18.00 price objective on shares of United Insurance in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.00.

United Insurance (NASDAQ UIHC) traded up $0.18 during mid-day trading on Friday, hitting $19.83. The stock had a trading volume of 77,649 shares, compared to its average volume of 167,936. United Insurance has a 1 year low of $13.05 and a 1 year high of $20.31. The company has a market cap of $840.11, a price-to-earnings ratio of -24.79, a PEG ratio of 0.47 and a beta of 1.54.

United Insurance (NASDAQ:UIHC) last posted its quarterly earnings data on Monday, November 6th. The insurance provider reported ($0.50) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.29. United Insurance had a negative return on equity of 2.29% and a negative net margin of 4.54%. research analysts forecast that United Insurance will post 0.75 earnings per share for the current year.

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

Institutional investors have recently modified their holdings of the stock. First Quadrant L P CA bought a new stake in United Insurance in the 3rd quarter valued at about $101,000. Municipal Employees Retirement System of Michigan increased its position in United Insurance by 82.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after buying an additional 3,500 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in United Insurance by 88.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after buying an additional 4,754 shares in the last quarter. Thrivent Financial For Lutherans increased its position in United Insurance by 7.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock valued at $169,000 after buying an additional 720 shares in the last quarter. Finally, Stevens Capital Management LP bought a new stake in United Insurance in the 3rd quarter valued at about $209,000. 31.54% of the stock is owned by institutional investors and hedge funds.

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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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