United Insurance Holdings Corp. (UIHC) Shares Down 7.2%

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

A number of research firms have recently commented on UIHC. Wells Fargo & Company reiterated a “buy” rating on shares of United Insurance Holdings Corp. in a research report on Wednesday, August 9th. BidaskClub upgraded United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. JMP Securities upgraded United Insurance Holdings Corp. from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 9th. Zacks Investment Research upgraded United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Finally, ValuEngine upgraded United Insurance Holdings Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. United Insurance Holdings Corp. presently has an average rating of “Buy” and an average target price of $16.17.

The company’s 50-day moving average price is $15.97 and its 200-day moving average price is $15.85. The stock has a market capitalization of $643.58 million, a PE ratio of 100.20 and a beta of 1.61.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 21st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Thursday, August 17th. United Insurance Holdings Corp.’s dividend payout ratio (DPR) is presently 1,200.00%.

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

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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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