United Insurance Holdings Corp (UIHC) Position Cut by Philadelphia Financial Management of San Francisco LLC
Philadelphia Financial Management of San Francisco LLC reduced its position in shares of United Insurance Holdings Corp (NASDAQ:UIHC) by 15.1% in the 4th quarter, Holdings Channel reports. The firm owned 1,234,098 shares of the insurance provider’s stock after selling 219,806 shares during the quarter. United Insurance makes up 3.1% of Philadelphia Financial Management of San Francisco LLC’s portfolio, making the stock its 12th biggest holding. Philadelphia Financial Management of San Francisco LLC’s holdings in United Insurance were worth $21,288,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in UIHC. Municipal Employees Retirement System of Michigan increased its position in United Insurance by 82.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock worth $126,000 after purchasing an additional 3,500 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in United Insurance by 88.6% during the third quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock worth $165,000 after purchasing an additional 4,754 shares during the last quarter. Stevens Capital Management LP acquired a new stake in United Insurance during the third quarter worth about $209,000. Stone Ridge Asset Management LLC acquired a new stake in United Insurance during the fourth quarter worth about $214,000. Finally, Unison Advisors LLC acquired a new stake in United Insurance during the fourth quarter worth about $262,000. Hedge funds and other institutional investors own 32.05% of the company’s stock.
Shares of United Insurance Holdings Corp (UIHC) traded up $0.05 on Wednesday, hitting $20.02. 8,418 shares of the company’s stock were exchanged, compared to its average volume of 168,010. United Insurance Holdings Corp has a 1-year low of $13.60 and a 1-year high of $20.40. The firm has a market capitalization of $855.06, a PE ratio of 62.41, a PEG ratio of 0.47 and a beta of 1.59.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Wednesday, March 7th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, March 6th. United Insurance’s dividend payout ratio is presently 75.00%.
In other United Insurance news, Director Alec Poitevint II acquired 1,500 shares of the stock in a transaction dated Friday, December 15th. The stock was acquired at an average price of $16.71 per share, with a total value of $25,065.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $334,200. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 22.60% of the stock is owned by company insiders.
UIHC has been the subject of several recent analyst reports. BidaskClub upgraded shares of United Insurance from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Wells Fargo & Co restated a “buy” rating and set a $20.50 price objective on shares of United Insurance in a research report on Wednesday, February 21st. ValuEngine cut shares of United Insurance from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research cut shares of United Insurance from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 6th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.17.
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United Insurance 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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