$174.94 Million in Sales Expected for United Insurance Holdings Corp (UIHC) This Quarter

Brokerages expect United Insurance Holdings Corp (NASDAQ:UIHC) to announce $174.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for United Insurance’s earnings, with the highest sales estimate coming in at $182.00 million and the lowest estimate coming in at $167.89 million. United Insurance posted sales of $171.20 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.2%. The firm is expected to announce its next earnings report after the market closes on Thursday, November 1st.

According to Zacks, analysts expect that United Insurance will report full year sales of $724.05 million for the current financial year, with estimates ranging from $701.61 million to $746.50 million. For the next year, analysts expect that the company will post sales of $789.32 million, with estimates ranging from $784.34 million to $794.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover United Insurance.

United Insurance (NASDAQ:UIHC) last issued its quarterly earnings data on Wednesday, August 1st. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.18). The business had revenue of $182.21 million for the quarter, compared to analyst estimates of $221.89 million. United Insurance had a net margin of 3.08% and a return on equity of 8.35%.

A number of research analysts have recently issued reports on UIHC shares. BidaskClub upgraded shares of United Insurance from a “hold” rating to a “buy” rating in a report on Thursday, August 2nd. Wells Fargo & Co reiterated a “buy” rating on shares of United Insurance in a report on Monday, July 23rd. Finally, Zacks Investment Research upgraded shares of United Insurance from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Saturday, September 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $22.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new position in shares of United Insurance during the third quarter valued at about $210,000. Northern Trust Corp lifted its position in shares of United Insurance by 6.3% during the second quarter. Northern Trust Corp now owns 261,572 shares of the insurance provider’s stock valued at $5,122,000 after purchasing an additional 15,513 shares in the last quarter. Ashford Capital Management Inc. bought a new position in shares of United Insurance during the second quarter valued at about $14,346,000. Raymond James & Associates lifted its position in shares of United Insurance by 8.2% during the second quarter. Raymond James & Associates now owns 265,120 shares of the insurance provider’s stock valued at $5,191,000 after purchasing an additional 20,033 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of United Insurance by 14.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,341,228 shares of the insurance provider’s stock valued at $26,261,000 after purchasing an additional 165,789 shares in the last quarter. 32.71% of the stock is currently owned by institutional investors.

Shares of NASDAQ UIHC opened at $20.40 on Friday. The stock has a market cap of $958.36 million, a PE ratio of 21.94, a price-to-earnings-growth ratio of 0.66 and a beta of 1.64. United Insurance has a 1 year low of $15.30 and a 1 year high of $22.43.

About United Insurance

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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