$201.52 Million in Sales Expected for United Insurance Holdings Corp (NASDAQ:UIHC) This Quarter
Brokerages predict that United Insurance Holdings Corp (NASDAQ:UIHC) will report $201.52 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for United Insurance’s earnings, with the highest sales estimate coming in at $206.23 million and the lowest estimate coming in at $196.80 million. United Insurance posted sales of $182.21 million during the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The firm is expected to issue its next quarterly earnings report after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that United Insurance will report full year sales of $805.49 million for the current fiscal year, with estimates ranging from $801.07 million to $809.90 million. For the next year, analysts anticipate that the company will report sales of $880.97 million, with estimates ranging from $871.74 million to $890.20 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for United Insurance.
United Insurance (NASDAQ:UIHC) last announced its quarterly earnings data on Tuesday, May 7th. The insurance provider reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by ($0.24). United Insurance had a net margin of 0.18% and a return on equity of 0.49%. The business had revenue of $191.97 million during the quarter, compared to analyst estimates of $196.90 million.
NASDAQ UIHC traded down $0.44 during trading hours on Tuesday, hitting $11.39. The company’s stock had a trading volume of 146,896 shares, compared to its average volume of 98,174. The stock has a fifty day moving average of $14.08. United Insurance has a twelve month low of $11.36 and a twelve month high of $22.43. The firm has a market cap of $491.89 million, a price-to-earnings ratio of 29.97, a P/E/G ratio of 0.79 and a beta of 1.34.
In other news, Director Alec Poitevint II bought 25,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $13.73 per share, for a total transaction of $343,250.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $343,250. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 52.50% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of UIHC. BNP Paribas Arbitrage SA raised its holdings in United Insurance by 2,276.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the insurance provider’s stock worth $68,000 after purchasing an additional 4,098 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in United Insurance in the fourth quarter worth $101,000. SG Americas Securities LLC acquired a new stake in United Insurance in the first quarter worth $113,000. Metropolitan Life Insurance Co. NY raised its holdings in United Insurance by 377.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,889 shares of the insurance provider’s stock worth $114,000 after purchasing an additional 5,445 shares during the period. Finally, Mackay Shields LLC acquired a new stake in United Insurance in the fourth quarter worth $183,000. Institutional investors own 37.41% of the company’s stock.
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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