Universal Insurance (NYSE:UVE) Sets New 12-Month High – Here’s What Happened

Universal Insurance Holdings, Inc. (NYSE:UVE) shares reached a new 52-week high during trading on Monday . The stock traded as high as $23.39 and last traded at $23.27, with a volume of 15201 shares trading hands. The stock had previously closed at $22.88.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Universal Insurance from a “hold” rating to a “buy” rating in a report on Sunday, November 10th.

Universal Insurance Stock Up 0.4 %

The firm has a 50-day moving average of $20.86 and a two-hundred day moving average of $20.04. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $650.01 million, a PE ratio of 9.34 and a beta of 0.90.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. During the same quarter last year, the firm posted ($0.16) earnings per share. On average, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.26%. Universal Insurance’s dividend payout ratio (DPR) is 26.02%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $20.21, for a total value of $404,200.00. Following the completion of the sale, the chairman now owns 1,062,262 shares of the company’s stock, valued at approximately $21,468,315.02. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 55,064 shares of company stock valued at $1,191,937 over the last three months. 17.50% of the stock is owned by company insiders.

Institutional Trading of Universal Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP lifted its holdings in Universal Insurance by 424.4% during the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,129 shares during the last quarter. Covestor Ltd lifted its stake in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 1,328 shares during the last quarter. CWM LLC increased its stake in Universal Insurance by 40.1% during the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 723 shares during the last quarter. Occidental Asset Management LLC acquired a new stake in shares of Universal Insurance during the second quarter worth $196,000. Finally, Aigen Investment Management LP bought a new position in shares of Universal Insurance in the 3rd quarter worth about $202,000. 66.61% of the stock is owned by institutional investors.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.