United Insurance Holdings Corp.’s (UIHC) Buy Rating Reaffirmed at Wells Fargo & Company

Wells Fargo & Company reaffirmed their buy rating on shares of United Insurance Holdings Corp. (NASDAQ:UIHC) in a report released on Tuesday morning. The brokerage currently has a $18.00 price objective on the insurance provider’s stock.

UIHC has been the topic of a number of other research reports. BidaskClub raised United Insurance Holdings Corp. from a sell rating to a hold rating in a research report on Friday, August 11th. Zacks Investment Research lowered United Insurance Holdings Corp. from a hold rating to a sell rating in a research report on Thursday, October 5th. ValuEngine lowered United Insurance Holdings Corp. from a hold rating to a sell rating in a research report on Tuesday, October 17th. Finally, JMP Securities raised United Insurance Holdings Corp. from an underperform rating to a market perform rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. United Insurance Holdings Corp. has an average rating of Buy and a consensus price target of $18.00.

United Insurance Holdings Corp. (NASDAQ:UIHC) traded up $0.19 during trading on Tuesday, hitting $15.86. The stock had a trading volume of 83,200 shares, compared to its average volume of 144,462. United Insurance Holdings Corp. has a 1-year low of $12.33 and a 1-year high of $17.81.

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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Investors of record on Wednesday, November 22nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.51%. The ex-dividend date is Tuesday, November 21st. United Insurance Holdings Corp.’s dividend payout ratio (DPR) is presently -30.00%.

Large investors have recently bought and sold shares of the stock. First Quadrant L P CA purchased a new position in United Insurance Holdings Corp. in the third quarter valued at $101,000. Municipal Employees Retirement System of Michigan increased its holdings in United Insurance Holdings Corp. by 82.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after buying an additional 3,500 shares during the last quarter. SG Americas Securities LLC purchased a new position in United Insurance Holdings Corp. in the first quarter valued at $144,000. Thrivent Financial For Lutherans purchased a new position in United Insurance Holdings Corp. in the first quarter valued at $160,000. Finally, BNP Paribas Arbitrage SA increased its holdings in United Insurance Holdings Corp. by 88.6% in the third quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after buying an additional 4,754 shares during the last quarter. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

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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