BidaskClub Upgrades United Insurance (UIHC) to “Buy”

United Insurance (NASDAQ:UIHC) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of United Insurance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods set a $21.00 price objective on shares of United Insurance and gave the stock a “buy” rating in a research note on Monday, January 15th. Zacks Investment Research raised shares of United Insurance from a “strong sell” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $18.00 price target on shares of United Insurance in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.00.

Shares of United Insurance (UIHC) traded up $0.18 during trading on Friday, reaching $19.83. 76,175 shares of the company’s stock traded hands, compared to its average volume of 167,936. The company has a market capitalization of $847.79, a PE ratio of -24.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.54. United Insurance has a 1 year low of $13.05 and a 1 year high of $20.31.

United Insurance (NASDAQ:UIHC) last issued 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 net margin of 4.54% and a negative return on equity of 2.29%. research analysts anticipate that United Insurance will post 0.75 earnings per share for the current fiscal year.

In other United Insurance news, Director Michael Hogan acquired 2,500 shares of United Insurance stock in a transaction on Tuesday, December 12th. The shares were purchased at an average cost of $16.45 per share, with a total value of $41,125.00. Following the completion of the purchase, the director now owns 57,438 shares in the company, valued at $944,855.10. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alec Poitevint II acquired 1,500 shares of United Insurance stock in a transaction on Friday, December 15th. The stock was acquired at an average cost of $16.71 per share, for a total transaction of $25,065.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $334,200. The disclosure for this purchase can be found here. 22.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 stake 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 stake 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 stake 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 stake 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. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

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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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