United Insurance Holdings Corp. (UIHC) Position Reduced by GMT Capital Corp

GMT Capital Corp reduced its position in United Insurance Holdings Corp. (NASDAQ:UIHC) by 41.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 387,137 shares of the insurance provider’s stock after selling 269,885 shares during the period. GMT Capital Corp owned 1.80% of United Insurance Holdings Corp. worth $6,175,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Hartford Investment Management Co. boosted its position in shares of United Insurance Holdings Corp. by 48.5% in the first quarter. Hartford Investment Management Co. now owns 20,200 shares of the insurance provider’s stock valued at $322,000 after buying an additional 6,600 shares in the last quarter. Doyle Wealth Management bought a new position in shares of United Insurance Holdings Corp. during the first quarter valued at about $386,000. Teachers Advisors LLC boosted its position in shares of United Insurance Holdings Corp. by 6.7% in the fourth quarter. Teachers Advisors LLC now owns 38,483 shares of the insurance provider’s stock valued at $583,000 after buying an additional 2,422 shares in the last quarter. Bowling Portfolio Management LLC boosted its position in shares of United Insurance Holdings Corp. by 16.6% in the fourth quarter. Bowling Portfolio Management LLC now owns 36,741 shares of the insurance provider’s stock valued at $556,000 after buying an additional 5,234 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of United Insurance Holdings Corp. by 40.1% in the fourth quarter. AQR Capital Management LLC now owns 99,586 shares of the insurance provider’s stock valued at $1,508,000 after buying an additional 28,509 shares in the last quarter. Institutional investors own 28.51% of the company’s stock.

Institutional Ownership by Quarter for United Insurance Holdings Corp. (NASDAQ:UIHC)

Shares of United Insurance Holdings Corp. (NASDAQ UIHC) traded up 0.97% on Monday, hitting $16.60. 241,370 shares of the stock traded hands. The stock’s 50 day moving average price is $15.76 and its 200 day moving average price is $15.46. United Insurance Holdings Corp. has a 52-week low of $9.52 and a 52-week high of $17.85. The stock has a market cap of $356.98 million, a P/E ratio of 55.15 and a beta of 1.52.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 30th. Investors of record on Tuesday, May 23rd were paid a dividend of $0.06 per share. The ex-dividend date was Friday, May 19th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.45%. United Insurance Holdings Corp.’s payout ratio is 80.00%.

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Several brokerages recently issued reports on UIHC. Zacks Investment Research upgraded shares of United Insurance Holdings Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, March 14th. ValuEngine raised shares of United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of United Insurance Holdings Corp. in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $16.17.

In other news, Director Alec Poitevint II bought 3,519 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average cost of $15.03 per share, for a total transaction of $52,890.57. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $300,600. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Andrew Swenson bought 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the insider now directly owns 30,017 shares of the company’s stock, valued at approximately $450,255. The disclosure for this purchase can be found here. Insiders have purchased 24,000 shares of company stock worth $356,791 over the last 90 days. Insiders own 22.60% of the company’s stock.

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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