Todays Report: The United Insurance Holdings Corp. (UIHC) Upgraded to “Strong-Buy” by Zacks Investment Research

The United Insurance Holdings Corp. (UIHC) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of United Insurance Holdings Corp. (NASDAQ:UIHC) from a sell rating to a strong-buy rating in a report released on Thursday. They currently have $19.00 price objective on the stock.

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. “

Shares of United Insurance Holdings Corp. (NASDAQ:UIHC) opened at 15.04 on Thursday. The company’s 50 day moving average price is $15.97 and its 200-day moving average price is $16.48. United Insurance Holdings Corp. has a 52 week low of $13.46 and a 52 week high of $20.04. The firm has a market capitalization of $322.97 million, a PE ratio of 9.36 and a beta of 1.18.

United Insurance Holdings Corp. (NASDAQ:UIHC) last released its earnings results on Tuesday, August 2nd. The company reported $0.45 earnings per share for the quarter, missing the 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 research analysts expect that United Insurance Holdings Corp. will post $1.57 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its position in shares of United Insurance Holdings Corp. by 156.5% in the second quarter. Acrospire Investment Management LLC now owns 7,369 shares of the company’s stock worth $121,000 after buying an additional 4,496 shares during the last quarter. BlackRock Advisors LLC boosted its position in shares of United Insurance Holdings Corp. by 5.0% in the second quarter. BlackRock Advisors LLC now owns 9,123 shares of the company’s stock worth $149,000 after buying an additional 434 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of United Insurance Holdings Corp. during the second quarter worth approximately $165,000. Analytic Investors LLC purchased a new position in shares of United Insurance Holdings Corp. during the second quarter worth approximately $170,000. Finally, A.R.T. Advisors LLC purchased a new position in shares of United Insurance Holdings Corp. during the second quarter worth approximately $194,000. Institutional investors own 55.97% of the company’s stock.

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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