Brokerages Expect United Insurance Holdings Corp (UIHC) Will Post Quarterly Sales of $174.08 Million

Equities analysts expect United Insurance Holdings Corp (NASDAQ:UIHC) to announce $174.08 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for United Insurance’s earnings. The lowest sales estimate is $144.76 million and the highest is $203.40 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 quarterly earnings report on Monday, February 19th.

According to Zacks, analysts expect that United Insurance will report full year sales of $174.08 million for the current fiscal year, with estimates ranging from $617.15 million to $675.80 million. For the next year, analysts forecast that the company will report sales of $803.75 million per share, with estimates ranging from $783.00 million to $824.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for United Insurance.

United Insurance (NASDAQ:UIHC) last announced its quarterly earnings results on Monday, November 6th. The insurance provider reported ($0.50) earnings per share for the quarter, beating 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%.

Several research firms recently issued reports on UIHC. ValuEngine cut United Insurance from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Keefe, Bruyette & Woods set a $21.00 price objective on United Insurance and gave the stock a “buy” rating in a report on Monday, January 15th. Zacks Investment Research upgraded United Insurance from a “strong sell” rating to a “hold” rating in a report on Friday, January 12th. BidaskClub cut United Insurance from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $18.00 price objective on shares of United Insurance in a report on Tuesday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $19.00.

Shares of United Insurance (UIHC) opened at $19.05 on Friday. United Insurance has a twelve month low of $13.05 and a twelve month high of $20.31. The stock has a market capitalization of $826.00 and a PE ratio of -23.81.

In related news, Director Alec Poitevint II bought 1,500 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $334,200. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Hogan bought 2,500 shares of the stock in a transaction dated Tuesday, December 12th. The shares were 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 owns 57,438 shares in the company, valued at $944,855.10. The disclosure for this purchase can be found here. Insiders own 22.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Unison Advisors LLC acquired a new position in shares of United Insurance during the 4th quarter worth approximately $262,000. Clear Harbor Asset Management LLC boosted its holdings in shares of United Insurance by 53.1% during the 4th quarter. Clear Harbor Asset Management LLC now owns 25,229 shares of the insurance provider’s stock worth $435,000 after purchasing an additional 8,755 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of United Insurance by 12.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 89,639 shares of the insurance provider’s stock worth $1,547,000 after purchasing an additional 10,183 shares during the last quarter. Simplex Trading LLC boosted its holdings in shares of United Insurance by 1,260.1% during the 4th quarter. Simplex Trading LLC now owns 15,927 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 14,756 shares during the last quarter. Finally, Lido Advisors LLC acquired a new position in shares of United Insurance during the 3rd quarter worth approximately $2,877,000. Institutional investors and hedge funds own 31.59% 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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