Citigroup Inc. lessened its holdings in shares of United Insurance Holdings Corp (NASDAQ:UIHC) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,874 shares of the insurance provider’s stock after selling 1,062 shares during the period. Citigroup Inc.’s holdings in United Insurance were worth $198,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Wedge Capital Management L L P NC boosted its holdings in shares of United Insurance by 8.4% in the fourth quarter. Wedge Capital Management L L P NC now owns 14,134 shares of the insurance provider’s stock valued at $235,000 after acquiring an additional 1,090 shares in the last quarter. Arizona State Retirement System lifted its stake in United Insurance by 6.6% during the fourth quarter. Arizona State Retirement System now owns 33,098 shares of the insurance provider’s stock valued at $550,000 after purchasing an additional 2,038 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in United Insurance by 24.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 21,527 shares of the insurance provider’s stock valued at $358,000 after purchasing an additional 4,241 shares during the last quarter. IndexIQ Advisors LLC lifted its stake in United Insurance by 3.9% during the third quarter. IndexIQ Advisors LLC now owns 118,769 shares of the insurance provider’s stock valued at $2,658,000 after purchasing an additional 4,484 shares during the last quarter. Finally, MetLife Investment Advisors LLC lifted its stake in United Insurance by 62.9% during the third quarter. MetLife Investment Advisors LLC now owns 14,099 shares of the insurance provider’s stock valued at $316,000 after purchasing an additional 5,445 shares during the last quarter. 35.80% of the stock is owned by institutional investors and hedge funds.
In related news, Director Alec Poitevint II purchased 20,000 shares of United Insurance stock in a transaction on Wednesday, March 6th. The stock was purchased at an average cost of $15.86 per share, with a total value of $317,200.00. Following the acquisition, the director now directly owns 25,000 shares in the company, valued at $396,500. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Daniel Peed sold 4,000 shares of the firm’s stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $16.06, for a total transaction of $64,240.00. Following the transaction, the director now directly owns 2,057,336 shares of the company’s stock, valued at $33,040,816.16. The disclosure for this sale can be found here. Over the last three months, insiders acquired 23,080 shares of company stock valued at $366,743 and sold 80,000 shares valued at $1,299,280. 52.40% of the stock is owned by corporate insiders.
Shares of UIHC traded down $0.14 during mid-day trading on Wednesday, hitting $15.72. 70,633 shares of the company’s stock were exchanged, compared to its average volume of 100,973. United Insurance Holdings Corp has a twelve month low of $15.16 and a twelve month high of $22.43. The firm has a market cap of $681.57 million, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41.
United Insurance (NASDAQ:UIHC) last posted its earnings results on Tuesday, February 19th. The insurance provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.01. United Insurance had a net margin of 0.04% and a return on equity of 3.04%. The business had revenue of $193.11 million for the quarter, compared to analyst estimates of $185.94 million. Research analysts anticipate that United Insurance Holdings Corp will post 1.54 EPS for the current year.
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About United Insurance
United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal 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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