Brokerages Set United Insurance Holdings Corp (UIHC) PT at $21.00

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Shares of United Insurance Holdings Corp (NASDAQ:UIHC) have been given an average rating of “Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $21.00.

A number of brokerages recently commented on UIHC. BidaskClub upgraded United Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 27th. Zacks Investment Research cut United Insurance from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of United Insurance in a research note on Monday, July 23rd.

United Insurance stock traded up $0.38 during midday trading on Monday, reaching $20.10. 230 shares of the stock traded hands, compared to its average volume of 98,754. United Insurance has a 12-month low of $15.30 and a 12-month high of $22.43. The stock has a market capitalization of $865.44 million, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 0.80 and a beta of 1.65.

United Insurance (NASDAQ:UIHC) last announced its earnings results on Wednesday, August 1st. The insurance provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.18). United Insurance had a net margin of 3.08% and a return on equity of 8.35%. The firm had revenue of $182.21 million for the quarter, compared to analysts’ expectations of $221.89 million. Equities research analysts anticipate that United Insurance will post 1.26 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in UIHC. Ashford Capital Management Inc. purchased a new position in shares of United Insurance in the 2nd quarter valued at about $14,346,000. BlackRock Inc. boosted its stake in shares of United Insurance by 7.1% in the 2nd quarter. BlackRock Inc. now owns 2,906,265 shares of the insurance provider’s stock valued at $56,905,000 after buying an additional 192,617 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of United Insurance by 14.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,341,228 shares of the insurance provider’s stock valued at $26,261,000 after buying an additional 165,789 shares during the period. Millennium Management LLC lifted its stake in United Insurance by 583.6% during the first quarter. Millennium Management LLC now owns 172,157 shares of the insurance provider’s stock worth $3,295,000 after purchasing an additional 146,972 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its stake in United Insurance by 575.0% during the second quarter. Franklin Street Advisors Inc. NC now owns 135,000 shares of the insurance provider’s stock worth $2,643,000 after purchasing an additional 115,000 shares during the last quarter. Institutional investors and hedge funds own 32.49% of the company’s stock.

United Insurance Company Profile

United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners, as well as dwelling fire policies.

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