Philadelphia Financial Management of San Francisco LLC cut its position in shares of United Insurance Holdings Corp (NASDAQ:UIHC) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,234,098 shares of the insurance provider’s stock after selling 219,806 shares during the period. United Insurance accounts for 3.1% of Philadelphia Financial Management of San Francisco LLC’s holdings, making the stock its 12th biggest position. Philadelphia Financial Management of San Francisco LLC owned about 2.89% of United Insurance worth $21,288,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan lifted its holdings in United Insurance by 82.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 3,500 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in United Insurance by 88.6% during the third quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after purchasing an additional 4,754 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in United Insurance during the fourth quarter valued at $214,000. Stevens Capital Management LP purchased a new position in United Insurance during the third quarter valued at $209,000. Finally, Unison Advisors LLC purchased a new position in United Insurance during the fourth quarter valued at $262,000. 32.05% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on UIHC shares. ValuEngine raised shares of United Insurance from a “hold” rating to a “buy” rating in a report on Friday, February 23rd. Wells Fargo & Co reaffirmed a “buy” rating and set a $20.50 price objective on shares of United Insurance in a report on Wednesday, February 21st. BidaskClub raised shares of United Insurance from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods set a $21.00 price objective on shares of United Insurance and gave the company a “buy” rating in a report on Monday, January 15th. Finally, Zacks Investment Research downgraded shares of United Insurance from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. United Insurance currently has a consensus rating of “Hold” and a consensus target price of $21.17.
United Insurance (NASDAQ:UIHC) last issued its earnings results on Wednesday, February 21st. The insurance provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.20. The business had revenue of $181.97 million during the quarter, compared to analysts’ expectations of $174.08 million. United Insurance had a net margin of 1.55% and a return on equity of 7.67%. sell-side analysts anticipate that United Insurance Holdings Corp will post 2.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, March 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Tuesday, March 6th. United Insurance’s dividend payout ratio (DPR) is 75.00%.
In other United Insurance news, Director Alec Poitevint II bought 1,500 shares of United Insurance stock in a transaction dated 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $334,200. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 22.60% of the stock is owned by corporate insiders.
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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