In a report released today, Elyse Greenspan from Wells Fargo maintained a Buy rating on United Insurance Holdings (NASDAQ: UIHC), with a price target of $24. The company’s shares opened today at $21.73, close to its 52-week high of $22.43.
Greenspan observed:
“We are maintaining our 2019 and 2020 EPS estimates of $2.25 and $2.45, respectively. We are maintaining our Outperform rating and raise our price target from $23 to $24 as the higher multiple reflects the fact that we have now passed the peak of hurricane season.”
According to TipRanks.com, Greenspan is a 4-star analyst with an average return of 6.4% and a 61.5% success rate. Greenspan covers the Financial sector, focusing on stocks such as Marsh & Mclennan Companies, Renaissancere Holdings Ltd, and Brighthouse Financial Inc.
Currently, the analyst consensus on United Insurance Holdings is a Moderate Buy with an average price target of $23.
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United Insurance Holdings’ market cap is currently $958.4M and has a P/E ratio of 42.61. The company has a Price to Book ratio of 1.71.
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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.
