United Insurance Holdings Corp (UIHC) Expected to Post Quarterly Sales of $187.04 Million

Brokerages expect United Insurance Holdings Corp (NASDAQ:UIHC) to announce $187.04 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for United Insurance’s earnings, with the highest sales estimate coming in at $194.20 million and the lowest estimate coming in at $179.88 million. United Insurance reported sales of $182.36 million in the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The company is expected to issue its next earnings report on Tuesday, May 14th.

According to Zacks, analysts expect that United Insurance will report full year sales of $793.35 million for the current financial year, with estimates ranging from $780.19 million to $806.50 million. For the next year, analysts forecast that the business will report sales of $839.93 million, with estimates ranging from $818.06 million to $861.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow United Insurance.

United Insurance (NASDAQ:UIHC) last released its quarterly earnings data on Tuesday, February 19th. The insurance provider reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.01. United Insurance had a net margin of 0.04% and a return on equity of 3.04%. The company had revenue of $193.11 million during the quarter, compared to analyst estimates of $185.94 million.

UIHC has been the subject of a number of research reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of United Insurance in a research note on Tuesday, January 8th. BidaskClub lowered shares of United Insurance from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. Finally, ValuEngine lowered shares of United Insurance from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. United Insurance presently has a consensus rating of “Hold” and a consensus price target of $21.00.

In other United Insurance news, Director Alec Poitevint II purchased 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average price of $15.86 per share, for a total transaction of $317,200.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at $396,500. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel Peed sold 1,900 shares of the stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $16.01, for a total transaction of $30,419.00. Following the completion of the transaction, the director now owns 2,077,536 shares in the company, valued at approximately $33,261,351.36. The disclosure for this sale can be found here. In the last quarter, insiders purchased 23,080 shares of company stock worth $366,743 and sold 89,900 shares worth $1,457,779. 52.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Neuburgh Advisers LLC boosted its position 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 purchasing an additional 680 shares in the last quarter. Wedge Capital Management L L P NC boosted its position in United Insurance by 8.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 14,134 shares of the insurance provider’s stock worth $235,000 after purchasing an additional 1,090 shares in the last quarter. Principal Financial Group Inc. boosted its position in United Insurance by 0.9% in the 4th quarter. Principal Financial Group Inc. now owns 174,488 shares of the insurance provider’s stock worth $2,900,000 after purchasing an additional 1,610 shares in the last quarter. Arizona State Retirement System boosted its position in United Insurance by 6.6% in the 4th quarter. Arizona State Retirement System now owns 33,098 shares of the insurance provider’s stock worth $550,000 after purchasing an additional 2,038 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in United Insurance by 13.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 28,826 shares of the insurance provider’s stock worth $443,000 after purchasing an additional 3,429 shares in the last quarter. Institutional investors and hedge funds own 35.79% of the company’s stock.

NASDAQ:UIHC traded up $0.15 during mid-day trading on Friday, reaching $16.40. The company’s stock had a trading volume of 72,554 shares, compared to its average volume of 103,087. United Insurance has a 1 year low of $15.16 and a 1 year high of $22.43. The firm has a market cap of $696.34 million, a PE ratio of 43.16, a price-to-earnings-growth ratio of 0.44 and a beta of 1.41.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Wednesday, March 6th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.24 annualized dividend and a yield of 1.46%. United Insurance’s dividend payout ratio (DPR) is presently 63.16%.

United Insurance Company 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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