United Insurance Holdings Corp (NASDAQ:UIHC) Declares Quarterly Dividend of $0.06

United Insurance Holdings Corp (NASDAQ:UIHC) announced a quarterly dividend on Wednesday, July 31st, NASDAQ reports. Shareholders of record on Wednesday, August 14th will be given a dividend of 0.06 per share by the insurance provider on Wednesday, August 21st. This represents a $0.24 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Tuesday, August 13th.

United Insurance has increased its dividend payment by an average of 6.3% annually over the last three years. United Insurance has a dividend payout ratio of 14.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect United Insurance to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 19.2%.

UIHC stock opened at $10.93 on Friday. United Insurance has a 12-month low of $10.72 and a 12-month high of $22.43. The stock has a market cap of $493.18 million, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 0.79 and a beta of 1.34. The business has a 50 day moving average of $13.72.

United Insurance (NASDAQ:UIHC) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.17). The business had revenue of $202.05 million for the quarter, compared to the consensus estimate of $201.52 million. United Insurance had a net margin of 0.18% and a return on equity of 0.49%. On average, research analysts predict that United Insurance will post 0.73 earnings per share for the current fiscal year.

In related news, Director Alec Poitevint II purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $13.73 per share, for a total transaction of $343,250.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $343,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 52.50% of the company’s stock.

A number of research analysts have recently weighed in on UIHC shares. ValuEngine downgraded shares of United Insurance from a “hold” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research downgraded shares of United Insurance from a “hold” rating to a “strong sell” rating in a report on Saturday, July 27th. Finally, Wells Fargo & Co set a $15.00 target price on shares of United Insurance and gave the company a “hold” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock has an average rating of “Sell” and an average target price of $18.67.

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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Dividend History for United Insurance (NASDAQ:UIHC)

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