United Insurance (UIHC) Downgraded by BidaskClub to “Buy”

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BidaskClub cut shares of United Insurance (NASDAQ:UIHC) from a strong-buy rating to a buy rating in a report published on Tuesday.

Several other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods lowered United Insurance from an outperform rating to a market perform rating and reduced their price objective for the company from $23.00 to $18.00 in a research note on Monday, November 5th. Wells Fargo & Co reaffirmed a buy rating and issued a $22.00 price objective on shares of United Insurance in a research note on Friday, November 2nd. Finally, Zacks Investment Research lowered United Insurance from a hold rating to a sell rating in a research note on Friday, October 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $21.00.

Shares of NASDAQ:UIHC opened at $18.63 on Tuesday. United Insurance has a 12-month low of $15.43 and a 12-month high of $22.43. The stock has a market capitalization of $784.93 million, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 1.14 and a beta of 1.72.

United Insurance (NASDAQ:UIHC) last issued its quarterly earnings results on Thursday, November 1st. The insurance provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.40). The business had revenue of $181.99 million during the quarter, compared to analyst estimates of $174.94 million. United Insurance had a return on equity of 9.33% and a net margin of 5.23%. Equities analysts predict that United Insurance will post 0.38 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 27th. Stockholders of record on Tuesday, November 20th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, November 19th. United Insurance’s dividend payout ratio is currently 25.81%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in shares of United Insurance by 3.4% in the 1st quarter. Northern Trust Corp now owns 246,059 shares of the insurance provider’s stock valued at $4,710,000 after purchasing an additional 8,045 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of United Insurance by 69.4% in the 1st quarter. Wells Fargo & Company MN now owns 80,968 shares of the insurance provider’s stock valued at $1,550,000 after purchasing an additional 33,161 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new position in shares of United Insurance in the 2nd quarter valued at about $424,000. Wealth Alliance Advisory Group LLC acquired a new position in shares of United Insurance in the 3rd quarter valued at about $212,000. Finally, Principal Financial Group Inc. lifted its stake in shares of United Insurance by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 157,296 shares of the insurance provider’s stock valued at $3,011,000 after purchasing an additional 3,742 shares in the last quarter. 32.53% of the stock is currently owned by institutional investors and hedge funds.

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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