Equities researchers at StockNews.com began coverage on shares of United Insurance (NASDAQ:UIHC – Get Rating) in a report issued on Friday. The brokerage set a “hold” rating on the insurance provider’s stock.
United Insurance Trading Up 15.2 %
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Shares of UIHC stock opened at $1.82 on Friday. The stock has a market cap of $78.82 million, a price-to-earnings ratio of -0.45 and a beta of -0.35. The stock has a 50-day moving average of $0.70 and a 200-day moving average of $0.82. United Insurance has a 1-year low of $0.29 and a 1-year high of $4.22.
United Insurance (NASDAQ:UIHC – Get Rating) last issued its quarterly earnings results on Wednesday, November 9th. The insurance provider reported ($1.34) earnings per share for the quarter. The company had revenue of $126.32 million during the quarter. United Insurance had a negative net margin of 35.33% and a negative return on equity of 71.10%.
Insider Activity
In related news, Director William H. Hood III purchased 47,517 shares of the firm’s stock in a transaction dated Monday, December 19th. The stock was bought at an average price of $0.53 per share, with a total value of $25,184.01. Following the completion of the purchase, the director now owns 178,137 shares in the company, valued at approximately $94,412.61. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders purchased 143,857 shares of company stock valued at $91,163. Company insiders own 55.10% of the company’s stock.
Institutional Investors Weigh In On United Insurance
Several large investors have recently added to or reduced their stakes in UIHC. Bank of New York Mellon Corp grew its stake in United Insurance by 22.2% during the first quarter. Bank of New York Mellon Corp now owns 190,629 shares of the insurance provider’s stock worth $631,000 after purchasing an additional 34,580 shares during the period. Invesco Ltd. grew its stake in United Insurance by 44.1% during the first quarter. Invesco Ltd. now owns 74,080 shares of the insurance provider’s stock worth $246,000 after purchasing an additional 22,657 shares during the period. Millennium Management LLC grew its stake in United Insurance by 374.9% during the second quarter. Millennium Management LLC now owns 295,920 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 233,612 shares during the period. Citadel Advisors LLC grew its stake in United Insurance by 15.5% during the second quarter. Citadel Advisors LLC now owns 83,295 shares of the insurance provider’s stock worth $130,000 after purchasing an additional 11,173 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in United Insurance by 49.8% during the second quarter. Goldman Sachs Group Inc. now owns 38,825 shares of the insurance provider’s stock worth $60,000 after purchasing an additional 12,908 shares during the period. Institutional investors and hedge funds own 14.27% of the company’s stock.
United Insurance Company Profile
United Insurance Holdings Corp. engages in the residential personal and commercial property and casualty insurance business. It offers insurance relating to homeowners, landlord and seasonal, condominium, flood, renters, and commercial residential. The company was founded on May 1, 2007 and is headquartered in St.
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