Zacks Investment Research lowered shares of United Insurance (NASDAQ:UIHC) from a strong-buy rating to a hold rating in a research report released 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. “

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A number of other equities research analysts have also recently issued reports on UIHC. Keefe, Bruyette & Woods set a $21.00 target price on shares of United Insurance and gave the company a buy rating in a research report on Monday, January 15th. BidaskClub raised shares of United Insurance from a hold rating to a buy rating in a research report on Friday, January 19th. ValuEngine cut shares of United Insurance from a buy rating to a hold rating in a research report on Wednesday, March 7th. Finally, Wells Fargo & Co reissued a buy rating and issued a $20.50 target price on shares of United Insurance in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $21.17.

United Insurance (NASDAQ UIHC) opened at $19.97 on Tuesday. United Insurance has a 52-week low of $13.60 and a 52-week high of $20.40. The company has a market cap of $854.64, a price-to-earnings ratio of 60.52, a price-to-earnings-growth ratio of 0.47 and a beta of 1.59.

United Insurance (NASDAQ:UIHC) last released its quarterly earnings data on Wednesday, February 21st. The insurance provider reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.20. United Insurance had a net margin of 1.55% and a return on equity of 7.67%. The firm had revenue of $181.97 million during the quarter, compared to analysts’ expectations of $174.08 million. equities analysts predict that United Insurance will post 2.13 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, March 7th will be given a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. United Insurance’s payout ratio is presently 72.73%.

In other United Insurance news, Director Alec Poitevint II bought 1,500 shares of United Insurance stock in a transaction dated Friday, December 15th. The stock was bought at an average price of $16.71 per share, with a total value of $25,065.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at approximately $334,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 22.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in United Insurance by 3.8% during the second quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock worth $15,376,000 after purchasing an additional 35,477 shares during the period. Dimensional Fund Advisors LP lifted its position in United Insurance by 3.1% during the second quarter. Dimensional Fund Advisors LP now owns 806,004 shares of the insurance provider’s stock worth $12,679,000 after purchasing an additional 24,555 shares during the period. Polaris Capital Management LLC lifted its position in United Insurance by 78.6% during the fourth quarter. Polaris Capital Management LLC now owns 254,955 shares of the insurance provider’s stock worth $56,207,000 after purchasing an additional 112,204 shares during the period. Simplex Trading LLC lifted its position in United Insurance by 1,260.1% during the fourth quarter. Simplex Trading LLC now owns 15,927 shares of the insurance provider’s stock worth $274,000 after purchasing an additional 14,756 shares during the period. Finally, Principal Financial Group Inc. lifted its position in United Insurance by 13.3% during the third quarter. Principal Financial Group Inc. now owns 154,716 shares of the insurance provider’s stock worth $2,522,000 after purchasing an additional 18,155 shares during the period. 32.05% of the stock is owned by institutional investors and hedge funds.

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About United Insurance

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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