United Insurance Holdings Corp (NASDAQ:UIHC) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 686,560 shares, a decline of 31.9% from the January 12th total of 1,007,852 shares. Based on an average daily trading volume, of 169,537 shares, the short-interest ratio is presently 4.0 days. Approximately 2.9% of the company’s shares are sold short.

In other United Insurance news, Director Alec Poitevint II bought 1,500 shares of the stock in a transaction on Friday, December 15th. The shares were bought at an average price of $16.71 per share, with a total value of $25,065.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $334,200. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Hogan bought 2,500 shares of the stock in a transaction on Tuesday, December 12th. The shares were acquired at an average cost of $16.45 per share, for a total transaction of $41,125.00. Following the purchase, the director now owns 57,438 shares in the company, valued at $944,855.10. The disclosure for this purchase can be found here. 22.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in UIHC. JPMorgan Chase & Co. bought a new stake in shares of United Insurance in the 2nd quarter valued at approximately $330,000. Alliancebernstein L.P. grew its stake in shares of United Insurance by 77.8% in the 2nd quarter. Alliancebernstein L.P. now owns 22,400 shares of the insurance provider’s stock valued at $352,000 after buying an additional 9,800 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of United Insurance by 8.7% in the 2nd quarter. Teachers Advisors LLC now owns 32,918 shares of the insurance provider’s stock valued at $518,000 after buying an additional 2,634 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of United Insurance by 1.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 93,465 shares of the insurance provider’s stock valued at $1,470,000 after buying an additional 1,115 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of United Insurance by 7.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock valued at $169,000 after buying an additional 720 shares in the last quarter. 31.50% of the stock is owned by institutional investors and hedge funds.

Several research firms have weighed in on UIHC. Zacks Investment Research cut United Insurance from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 6th. ValuEngine cut United Insurance from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. BidaskClub raised United Insurance from a “sell” rating to a “hold” rating in a research note on Friday, December 29th. Wells Fargo & Co reaffirmed a “buy” rating and set a $18.00 target price on shares of United Insurance in a research note on Tuesday, November 7th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $20.00 target price on shares of United Insurance in a research note on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.50.

Shares of United Insurance (NASDAQ:UIHC) traded up $0.19 during midday trading on Wednesday, hitting $18.51. The company had a trading volume of 79,261 shares, compared to its average volume of 170,741. The company has a market cap of $787.95, a PE ratio of -23.14, a price-to-earnings-growth 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.

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United Insurance Company 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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