United Insurance (NASDAQ:UIHC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.
UIHC has been the subject of several other reports. Wells Fargo & Co reaffirmed a “buy” rating and set a $18.00 price objective on shares of United Insurance in a report on Tuesday, November 7th. Zacks Investment Research raised United Insurance from a “strong sell” rating to a “hold” rating in a report on Thursday, December 14th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price target on shares of United Insurance in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.50.
United Insurance (NASDAQ UIHC) opened at $18.79 on Friday. The stock has a market capitalization of $791.37, a price-to-earnings ratio of -23.49, a P/E/G ratio of 0.41 and a beta of 1.65. United Insurance has a 1-year low of $13.60 and a 1-year high of $20.31.
Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new stake in shares of United Insurance in the second quarter valued at $330,000. Vanguard Group Inc. grew its position in shares of United Insurance by 3.8% in the second quarter. Vanguard Group Inc. now owns 977,451 shares of the insurance provider’s stock valued at $15,376,000 after purchasing an additional 35,477 shares during the period. Dimensional Fund Advisors LP grew its position in shares of United Insurance by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 806,004 shares of the insurance provider’s stock valued at $12,679,000 after purchasing an additional 24,555 shares during the period. Principal Financial Group Inc. grew its position in shares of United Insurance by 13.3% in the third quarter. Principal Financial Group Inc. now owns 154,716 shares of the insurance provider’s stock valued at $2,522,000 after purchasing an additional 18,155 shares during the period. Finally, Teachers Advisors LLC grew its position in United Insurance by 8.7% during the second quarter. Teachers Advisors LLC now owns 32,918 shares of the insurance provider’s stock valued at $518,000 after acquiring an additional 2,634 shares during the period. 31.50% of the stock is owned by institutional investors and hedge funds.
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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