United Insurance Holdings Corp. (NASDAQ:UIHC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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. “

Shares of United Insurance Holdings Corp. (NASDAQ:UIHC) traded down 2.02% on Tuesday, hitting $15.05. The stock had a trading volume of 102,670 shares. The stock’s 50-day moving average price is $15.98 and its 200 day moving average price is $16.49. The company has a market cap of $323.18 million, a PE ratio of 9.37 and a beta of 1.18. United Insurance Holdings Corp. has a 52 week low of $13.46 and a 52 week high of $20.04.

United Insurance Holdings Corp. (NASDAQ:UIHC) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.05. United Insurance Holdings Corp. had a net margin of 8.29% and a return on equity of 14.91%. On average, analysts predict that United Insurance Holdings Corp. will post $1.57 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors increased its position in United Insurance Holdings Corp. by 4.2% in the second quarter. BlackRock Fund Advisors now owns 1,193,678 shares of the company’s stock worth $19,552,000 after buying an additional 48,541 shares in the last quarter. Vanguard Group Inc. increased its position in United Insurance Holdings Corp. by 7.3% in the second quarter. Vanguard Group Inc. now owns 779,763 shares of the company’s stock worth $12,773,000 after buying an additional 53,301 shares in the last quarter. Dimensional Fund Advisors LP increased its position in United Insurance Holdings Corp. by 32.7% in the second quarter. Dimensional Fund Advisors LP now owns 621,181 shares of the company’s stock worth $10,174,000 after buying an additional 153,072 shares in the last quarter. State of Wisconsin Investment Board increased its position in United Insurance Holdings Corp. by 11.0% in the second quarter. State of Wisconsin Investment Board now owns 459,820 shares of the company’s stock worth $7,532,000 after buying an additional 45,415 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of United Insurance Holdings Corp. by 1,460.3% in the second quarter. Wedge Capital Management L L P NC now owns 450,933 shares of the company’s stock valued at $18,506,000 after buying an additional 422,033 shares in the last quarter. Hedge funds and other institutional investors own 55.97% 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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