United Insurance Holdings Corp (NASDAQ:UIHC) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Investors of record on Tuesday, August 11th will be paid a dividend of 0.06 per share by the insurance provider on Tuesday, August 18th. This represents a $0.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, August 10th.
United Insurance has increased its dividend payment by an average of 4.4% annually over the last three years. United Insurance has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect United Insurance to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 25.3%.
UIHC traded up $0.12 on Thursday, reaching $7.66. The company had a trading volume of 729 shares, compared to its average volume of 60,049. United Insurance has a 1 year low of $6.99 and a 1 year high of $14.24. The stock has a market capitalization of $328.82 million, a PE ratio of -6.18 and a beta of 0.82. The stock has a 50-day moving average price of $7.61 and a 200-day moving average price of $8.80.
United Insurance (NASDAQ:UIHC) last announced its quarterly earnings results on Wednesday, May 6th. The insurance provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). United Insurance had a negative net margin of 6.52% and a negative return on equity of 7.29%. The company had revenue of $202.83 million during the quarter, compared to analysts’ expectations of $206.08 million. On average, equities analysts expect that United Insurance will post 0.6 earnings per share for the current year.
A number of brokerages recently weighed in on UIHC. Raymond James reduced their price target on shares of United Insurance from $12.00 to $10.50 and set an “outperform” rating for the company in a research report on Friday, April 3rd. BidaskClub lowered shares of United Insurance from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 13th. Finally, Zacks Investment Research lowered shares of United Insurance from a “buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.42.
In other United Insurance news, Director Alec Poitevint II acquired 9,900 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $7.47 per share, for a total transaction of $73,953.00. Following the completion of the purchase, the director now owns 35,000 shares in the company, valued at approximately $261,450. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 18,879 shares of company stock worth $141,183. 53.10% of the stock is currently owned by company insiders.
United Insurance Company Profile
United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners, as well as dwelling fire policies.
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