Foundry Partners LLC lifted its stake in shares of United Insurance Holdings Corp (NASDAQ:UIHC) by 36.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 365,855 shares of the insurance provider’s stock after acquiring an additional 97,265 shares during the period. Foundry Partners LLC’s holdings in United Insurance were worth $5,817,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan acquired a new stake in shares of United Insurance during the fourth quarter valued at $101,000. Neuburgh Advisers LLC boosted its stake in United Insurance by 11.2% in the 4th quarter. Neuburgh Advisers LLC now owns 6,732 shares of the insurance provider’s stock worth $112,000 after buying an additional 680 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in United Insurance by 377.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,889 shares of the insurance provider’s stock worth $114,000 after buying an additional 5,445 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new stake in United Insurance in the 4th quarter worth about $136,000. Finally, Mackay Shields LLC acquired a new stake in United Insurance in the 4th quarter worth about $183,000. 35.80% of the stock is currently owned by institutional investors and hedge funds.
UIHC has been the topic of a number of research analyst reports. Wells Fargo & Co reissued a “buy” rating on shares of United Insurance in a research note on Tuesday, January 8th. BidaskClub lowered United Insurance from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. ValuEngine lowered United Insurance from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, Zacks Investment Research lowered United Insurance from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.00.
United Insurance (NASDAQ:UIHC) last issued its quarterly earnings results on Tuesday, February 19th. The insurance provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. United Insurance had a return on equity of 3.04% and a net margin of 0.04%. The firm had revenue of $193.11 million for the quarter, compared to analyst estimates of $185.94 million. Equities analysts predict that United Insurance Holdings Corp will post 1.54 earnings per share for the current year.
In other news, Director Alec Poitevint II acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were bought at an average cost of $15.86 per share, for a total transaction of $317,200.00. Following the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $396,500. The purchase was disclosed in a filing with the SEC, which is available through 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 value of $64,240.00. Following the completion of the transaction, the director now owns 2,057,336 shares in the company, valued at $33,040,816.16. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 23,080 shares of company stock worth $366,743 and sold 80,000 shares worth $1,299,280. Company insiders own 52.40% of the company’s stock.
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United Insurance Profile
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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