The United Insurance Holdings Corp. (UIHC) Downgraded by Zacks Investment Research to Hold

The United Insurance Holdings Corp. (UIHC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of United Insurance Holdings Corp. (NASDAQ:UIHC) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning.

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. “

United Insurance Holdings Corp. (NASDAQ:UIHC) opened at 15.04 on Tuesday. The firm has a market cap of $322.97 million, a price-to-earnings ratio of 9.36 and a beta of 1.18. The stock has a 50 day moving average price of $15.97 and a 200 day moving average price of $16.48. United Insurance Holdings Corp. has a 12 month low of $13.46 and a 12 month high of $20.04.

United Insurance Holdings Corp. (NASDAQ:UIHC) last issued its earnings results on Tuesday, August 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.05. United Insurance Holdings Corp. had a return on equity of 14.91% and a net margin of 8.29%. On average, equities analysts expect that United Insurance Holdings Corp. will post $1.57 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Algert Global LLC bought a new position in shares of United Insurance Holdings Corp. during the third quarter worth about $188,000. Foundry Partners LLC boosted its position in shares of United Insurance Holdings Corp. by 17.4% in the third quarter. Foundry Partners LLC now owns 191,545 shares of the company’s stock worth $3,252,000 after buying an additional 28,405 shares during the last quarter. American Century Companies Inc. bought a new position in shares of United Insurance Holdings Corp. during the second quarter worth about $609,000. Panagora Asset Management Inc. bought a new position in shares of United Insurance Holdings Corp. during the second quarter worth about $238,000. Finally, A.R.T. Advisors LLC bought a new position in shares of United Insurance Holdings Corp. during the second quarter worth about $194,000. 55.97% of the stock is owned by institutional investors and hedge funds.

United Insurance Holdings Corp. Company Profile

United Insurance Holdings Corp. is a property and casualty insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of agents and a group of insurance subsidiaries. The Company’s insurance subsidiary is United Property & Casualty Insurance Company.

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