Seeking Alpha

United Insurance leads P&C gains after Wells says "Buy"

  • Property & casualty insurers are bouncing from a tough Friday session which was led by declines in Chubb and Cincinnati Financial after tough Q1 results. Today's biggest gainer is United Insurance Holdings (UIHC +4.8%) - continuing a big run after being initiated with an Outperform rating at Wells Fargo.
  • Aren't insurers supposed to be bought after a tough quarter for catastrophes as it means they can raise rates?
  • Others: HCI Group (HCI +3.1%), Universal Insurance (UVE +3.5%), W.R. Berkley (WRB +1.2%), Travelers (TRV +1.6%), Allstate (ALL +1.3%), Chubb (CB +1.3%), and Cincinnati Financial (CINF +0.9%).
  • ETFs: KIE, IAK, KBWP, KBWI
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