Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

United Insurance Holdings Corp. (UIHC)

Company Dividend Discount ModelIndustry: Insurance - Property & CasualtySector: Financial Services

Valuation Snapshot

Stable Growth$55.91 - $79.95$67.70
Multi-Stage$79.29 - $87.13$83.13
Blended Fair Value$75.41
Current Price$7.70
Upside879.40%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS18.58%21.87%0.490.000.050.210.210.210.210.180.100.09
YoY Growth--0.00%-100.00%-74.99%0.36%0.32%0.12%14.20%80.76%15.62%28.96%
Dividend Yield--6.31%0.00%1.85%6.30%2.88%2.24%1.26%0.95%0.63%0.45%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)402.09
(-) Cash Dividends Paid (M)24.10
(=) Cash Retained (M)377.98
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)80.4250.2630.16
Cash Retained (M)377.98377.98377.98
(-) Cash Required (M)-80.42-50.26-30.16
(=) Excess Retained (M)297.57327.72347.83
(/) Shares Outstanding (M)49.6249.6249.62
(=) Excess Retained per Share6.006.607.01
LTM Dividend per Share0.490.490.49
(+) Excess Retained per Share6.006.607.01
(=) Adjusted Dividend6.487.097.50
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate-1.43%-0.43%0.57%
Fair Value$55.91$67.70$79.95
Upside / Downside626.12%779.18%938.32%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)402.09400.36398.64396.94395.23393.54405.35
Payout Ratio5.99%22.80%39.60%56.40%73.20%90.00%92.50%
Projected Dividends (M)24.1091.26157.85223.86289.31354.19374.94

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate10.00%10.00%10.00%
Growth Rate-1.43%-0.43%0.57%
Year 1 PV (M)82.1382.9783.80
Year 2 PV (M)127.85130.45133.09
Year 3 PV (M)163.17168.19173.31
Year 4 PV (M)189.78197.60205.66
Year 5 PV (M)209.10219.92231.19
PV of Terminal Value (M)3,162.193,325.873,496.27
Equity Value (M)3,934.224,125.014,323.32
Shares Outstanding (M)49.6249.6249.62
Fair Value$79.29$83.13$87.13
Upside / Downside929.69%979.63%1,031.53%

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