Best Insurance

UIHC Stock buy rating prices target $8.00 : Sterne Agee initiated coverage on shares of United Insurance Holdings Corp. (NASDAQ: UIHC) in a research note released on Friday morning. The firm issued a buy rating and a $8.00 price target on the stock.

“UIHC has a strong underwriting track record providing homeowners coverage in FL and is well positioned to expand in catastrophe/wind-exposed regions given its expertise and current pricing momentum. We feel valuation at 98% of 4Q12E TBV is attractive given growth opportunities and our expectation of improving earnings (to mid/high teens ROE).,” the firm’s analyst wrote.

Shares of United Insurance Holdings Corp. traded up 4.42% during mid-day trading on Friday, hitting $5.90. United Insurance Holdings Corp. has a 52 week low of $4.05 and a 52 week high of $6.10. The company has a market cap of $61.6 million and a P/E ratio of 4.90.

The company also recently announced a quarterly dividend, which is scheduled for Monday, December 31st. Stockholders of record on Friday, December 28th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 2.03%.

Separately, analysts at Raymond James initiated coverage on shares of United Insurance Holdings Corp. in a research note to investors on Friday. They set an outperform rating on the stock.