Shares of United Insurance Holdings Corp. (NASDAQ:UIHC) fell 7.2% during mid-day trading on Tuesday . The stock traded as low as $14.26 and last traded at $14.77. 971,825 shares were traded during trading, an increase of 605% from the average session volume of 137,809 shares. The stock had previously closed at $15.91.

Several equities analysts have weighed in on the stock. JMP Securities upgraded shares of United Insurance Holdings Corp. from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 9th. Wells Fargo & Company restated a “buy” rating on shares of United Insurance Holdings Corp. in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of United Insurance Holdings Corp. from a “hold” rating to a “strong sell” rating in a report on Friday, July 14th. ValuEngine upgraded shares of United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, BidaskClub lowered shares of United Insurance Holdings Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.17.

The stock has a market capitalization of $628.27 million, a P/E ratio of 97.81 and a beta of 1.61. The company has a 50 day moving average of $16.03 and a 200-day moving average of $15.87.

The company also recently declared a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 21st were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. United Insurance Holdings Corp.’s dividend payout ratio is currently 1,200.00%.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in United Insurance Holdings Corp. in the 1st quarter valued at about $144,000. Thrivent Financial For Lutherans purchased a new stake in United Insurance Holdings Corp. during the first quarter valued at about $160,000. Citadel Advisors LLC purchased a new stake in United Insurance Holdings Corp. during the first quarter valued at about $177,000. Texas Permanent School Fund lifted its stake in United Insurance Holdings Corp. by 2.0% during the second quarter. Texas Permanent School Fund now owns 13,108 shares of the insurance provider’s stock valued at $206,000 after buying an additional 256 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its stake in United Insurance Holdings Corp. by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 15,198 shares of the insurance provider’s stock valued at $242,000 after buying an additional 2,294 shares in the last quarter. 29.32% of the stock is owned by institutional investors and hedge funds.

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About United Insurance Holdings Corp.

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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