United Insurance Holdings Corp. (NASDAQ:UIHC) is Attracting Smart Money

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), United Insurance Holdings Corp. (NASDAQ:UIHC) reported that Peed Leah Anneberg has picked up 3,487,837 of common stock as of 2017-04-14.

The acquisition brings the aggregate amount owned by Peed Leah Anneberg to a total of 3,487,837 representing a 8.2% stake in the company.

For those not familiar with the company, United Insurance Holdings Corp. is a property and casualty insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of agents and a group of insurance subsidiaries. The Company’s insurance subsidiary is United Property & Casualty Insurance Company. Its other subsidiaries include United Insurance Management, L.C., the managing general agent that manages substantially all aspects of United Property & Casualty Insurance Company’s business; Skyway Claims Services, LLC, which provides services to its insurance affiliate; UPC Re, which provides a portion of the reinsurance protection purchased by its insurance affiliate. The Company’s principal product is homeowners’ insurance, which it offers in Connecticut, Florida, Georgia, Hawaii, Louisiana, Massachusetts, New Jersey, North Carolina, Rhode Island, South Carolina and Texas.

A glance at United Insurance Holdings Corp. (NASDAQ:UIHC)’s key stats reveals a current market capitalization of 321.58 Million based on 21.73 Million shares outstanding and a price at last close of $14.93 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2017-03-10, Hood picked up 41,658 at a purchase price of $17.01. This brings their total holding to 689,191 as of the date of the filing.

On the sell side, the most recent transaction saw Whittemore unload 4,500 shares at a sale price of $17.79. This brings their total holding to 236,127.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on United Insurance Holdings Corp. (NASDAQ:UIHC) as things move forward to see if its progress aligns with these transactions.

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