StockNews.com Begins Coverage on United Insurance (NASDAQ:UIHC)

Stock analysts at StockNews.com assumed coverage on shares of United Insurance (NASDAQ:UIHCGet Rating) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the insurance provider’s stock.

United Insurance Stock Performance

Shares of UIHC stock opened at $0.31 on Friday. The business’s 50-day moving average price is $0.51 and its 200-day moving average price is $1.07. United Insurance has a 12 month low of $0.30 and a 12 month high of $4.81. The firm has a market capitalization of $13.21 million, a price-to-earnings ratio of -0.07 and a beta of 0.67.

Institutional Trading of United Insurance

A number of hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of United Insurance by 8.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,030 shares of the insurance provider’s stock valued at $348,000 after purchasing an additional 7,955 shares in the last quarter. Citadel Advisors LLC raised its position in shares of United Insurance by 15.5% during the second quarter. Citadel Advisors LLC now owns 83,295 shares of the insurance provider’s stock worth $130,000 after acquiring an additional 11,173 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of United Insurance by 49.8% during the second quarter. Goldman Sachs Group Inc. now owns 38,825 shares of the insurance provider’s stock worth $60,000 after acquiring an additional 12,908 shares during the last quarter. Invesco Ltd. raised its position in shares of United Insurance by 44.1% during the first quarter. Invesco Ltd. now owns 74,080 shares of the insurance provider’s stock worth $246,000 after acquiring an additional 22,657 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of United Insurance by 22.2% during the first quarter. Bank of New York Mellon Corp now owns 190,629 shares of the insurance provider’s stock worth $631,000 after acquiring an additional 34,580 shares during the last quarter. 18.69% of the stock is owned by institutional investors and hedge funds.

About United Insurance

(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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