United Insurance Holdings Corp. (NASDAQ:UIHC) operates as a property and casualty insurance holding company that sources, writes, and services residential property and casualty insurance policies in Florida, Massachusetts, New Jersey, North Carolina, Rhode Island, South Carolina, and Texas.
Insider buying during the last 30 days
Here is a table of United Insurance's insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Purchased||Public Offering||Current Ownership||Increase In Shares|
|Sherrill Hudson||Director||March 5||30,000||Yes||50,000 shares||+150.0%|
|Kimberly Salmon||General Counsel||Feb 24-Mar 4||18,204||No||18,204 shares||from 0 to 18,204 shares|
|Alec Poitevint||Director||Feb 28||80,000||Yes||755,596 shares||11.8%|
|William Hood||Director||Feb 28||20,000||Yes||592,533 shares||3.5%|
|Kern Davis||Director||Feb 28||12,000||Yes||259,340 shares||4.9%|
There have been 160,204 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of United Insurance's insider activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 578,404 shares purchased, and there have been zero shares sold by insiders since January 2013.
United Insurance reported the full-year 2013 financial results on February 19 with the following highlights:
|Net income||$20.3 million|
|Book value||$6.64 per share|
United Insurance closed a $54.1 million financing on March 5.
United Insurance's book value has been trending higher since 2011.
Here is a table comparing United Insurance against the peer group.
United Insurance is trading below the peer-average P/E ratio.
There have been five different insiders buying United Insurance, and there have not been any insiders selling United Insurance during the last 30 days. Three of these five insiders increased their holdings by more than 10%. United Insurance has an insider ownership of 24.70%.
Four of these five insiders purchased their shares at $12.50 pursuant to the public offering. I believe United Insurance could be a good pick below $13 based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in UIHC over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.