United Insurance (NASDAQ:UIHC – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Saturday, Zacks.com reports.
According to Zacks, “United Insurance Holdings Corp., together with its subsidiaries, operates as a property and casualty insurance company. It primarily offers homeowners and dwelling fire insurance policies, as well as provides flood insurance through the National Flood Insurance Program. From its headquarters in St. Petersburg, United’s team of dedicated employees manages a completely integrated insurance company, including sales, underwriting, policyholder service and claims. It principally markets its products through insurance agents. “
Separately, StockNews.com assumed coverage on United Insurance in a report on Thursday, March 31st. They set a “hold” rating for the company.
United Insurance (NASDAQ:UIHC – Get Rating) last released its earnings results on Monday, May 9th. The insurance provider reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.58). United Insurance had a negative net margin of 12.75% and a negative return on equity of 21.51%. During the same period in the previous year, the business posted ($0.45) earnings per share. On average, analysts predict that United Insurance will post -1.65 EPS for the current year.
In other United Insurance news, Director Kent G. Whittemore purchased 25,000 shares of the stock in a transaction dated Wednesday, May 11th. The shares were bought at an average cost of $1.46 per share, with a total value of $36,500.00. Following the completion of the transaction, the director now owns 334,267 shares in the company, valued at approximately $488,029.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 55.10% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. lifted its stake in United Insurance by 521.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 7,698 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 6,460 shares during the period. Captrust Financial Advisors lifted its stake in United Insurance by 948.8% during the third quarter. Captrust Financial Advisors now owns 9,418 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 8,520 shares during the period. BNP Paribas Arbitrage SA lifted its stake in United Insurance by 64.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 9,251 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 3,633 shares during the period. Wolverine Trading LLC bought a new position in United Insurance during the fourth quarter worth about $43,000. Finally, Wells Fargo & Company MN lifted its stake in United Insurance by 1,128,200.0% during the fourth quarter. Wells Fargo & Company MN now owns 11,283 shares of the insurance provider’s stock worth $49,000 after purchasing an additional 11,282 shares during the period. 24.07% of the stock is currently owned by institutional investors and hedge funds.
United Insurance Company Profile (Get Rating)
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.
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