KBW Believes United Insurance Holdings (UIHC) Still Has Room to Grow


In a report released yesterday, Arash Soleimani from KBW reiterated a Buy rating on United Insurance Holdings (NASDAQ: UIHC), with a price target of $23. The company’s shares closed yesterday at $20.78, close to its 52-week high of $21.45.

According to TipRanks.com, Soleimani is a 4-star analyst with an average return of 8.1% and a 65.1% success rate. Soleimani covers the Financial sector, focusing on stocks such as Universal Insurance Holdings Inc, Federated National, and Pro-Assurance Corp.

Currently, the analyst consensus on United Insurance Holdings is a Moderate Buy with an average price target of $22.50, an 8.3% upside from current levels. In a report issued on July 20, Wells Fargo also maintained a Buy rating on the stock with a $21.50 price target.

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Based on United Insurance Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $14.7 million. In comparison, last year the company had a net profit of $7.26 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UIHC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

United Insurance Holdings Corp. engages in the homeowners property and casualty insurance business, through wholly-owned insurance subsidiaries. Its products consist of condominium, investor property, identity theft, renters flood, commercial residential, and special coverages. The company was founded in May 2007 and is headquartered in St. Petersburg, FL.

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