Insider Buying: United Insurance Holdings Corp (NASDAQ:UIHC) Director Purchases 3,000 Shares of Stock

United Insurance Holdings Corp (NASDAQ:UIHC) Director Patrick Maroney acquired 3,000 shares of United Insurance stock in a transaction that occurred on Tuesday, August 6th. The shares were purchased at an average cost of $11.75 per share, with a total value of $35,250.00. Following the transaction, the director now owns 7,750 shares of the company’s stock, valued at approximately $91,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NASDAQ UIHC traded up $0.46 during trading on Tuesday, hitting $11.77. 263,925 shares of the company traded hands, compared to its average volume of 111,941. United Insurance Holdings Corp has a 12 month low of $10.72 and a 12 month high of $22.43. The business’s fifty day simple moving average is $13.47. The company has a market cap of $485.84 million, a P/E ratio of 30.97, a P/E/G ratio of 0.78 and a beta of 1.28.

United Insurance (NASDAQ:UIHC) last posted its earnings results on Wednesday, July 31st. The insurance provider reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.17). United Insurance had a negative net margin of 2.09% and a negative return on equity of 2.94%. The company had revenue of $202.05 million for the quarter, compared to the consensus estimate of $201.52 million. Research analysts predict that United Insurance Holdings Corp will post 0.73 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, August 13th. This represents a $0.24 annualized dividend and a yield of 2.04%. United Insurance’s dividend payout ratio (DPR) is currently 63.16%.

UIHC has been the topic of several recent research reports. Wells Fargo & Co set a $15.00 target price on United Insurance and gave the company a “hold” rating in a report on Friday, July 19th. Raymond James cut their target price on United Insurance from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Monday. ValuEngine lowered United Insurance from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research lowered United Insurance from a “hold” rating to a “strong sell” rating in a report on Saturday, July 27th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.75.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Aperio Group LLC bought a new position in shares of United Insurance in the second quarter worth about $59,000. BNP Paribas Arbitrage SA increased its stake in shares of United Insurance by 2,276.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 4,098 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in shares of United Insurance in the fourth quarter worth about $101,000. SG Americas Securities LLC bought a new position in shares of United Insurance in the first quarter worth about $113,000. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of United Insurance by 377.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,889 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 5,445 shares during the period. Institutional investors own 37.55% of the company’s stock.

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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