ValuEngine upgraded shares of UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE) from a buy rating to a strong-buy rating in a research note published on Thursday morning.

Several other analysts also recently commented on the company. Keefe, Bruyette & Woods reissued a buy rating and issued a $29.00 price objective on shares of UNIVERSAL INSURANCE HOLDINGS INC in a research note on Friday, August 18th. BidaskClub downgraded UNIVERSAL INSURANCE HOLDINGS INC from a sell rating to a strong sell rating in a research note on Tuesday, August 1st.

Shares of UNIVERSAL INSURANCE HOLDINGS INC (NYSE UVE) opened at $25.25 on Thursday. The company has a market capitalization of $869.69, a P/E ratio of 10.79 and a beta of 1.85. UNIVERSAL INSURANCE HOLDINGS INC has a 52 week low of $15.07 and a 52 week high of $29.20. The company has a quick ratio of 0.68, a current ratio of 1.24 and a debt-to-equity ratio of 0.03.

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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, September 12th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Monday, September 11th. UNIVERSAL INSURANCE HOLDINGS INC’s dividend payout ratio (DPR) is presently 23.93%.

UNIVERSAL INSURANCE HOLDINGS INC announced that its Board of Directors has approved a stock repurchase program on Wednesday, November 8th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other UNIVERSAL INSURANCE HOLDINGS INC news, CFO Frank Wilcox bought 2,000 shares of UNIVERSAL INSURANCE HOLDINGS INC stock in a transaction dated Friday, September 8th. The stock was bought at an average cost of $17.69 per share, with a total value of $35,380.00. Following the completion of the acquisition, the chief financial officer now directly owns 96,024 shares in the company, valued at approximately $1,698,664.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.50% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 0.7% in the second quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 30 shares in the last quarter. Texas Permanent School Fund grew its holdings in UNIVERSAL INSURANCE HOLDINGS INC by 0.6% during the second quarter. Texas Permanent School Fund now owns 23,815 shares of the insurance provider’s stock valued at $600,000 after purchasing an additional 132 shares during the period. Renaissance Group LLC grew its holdings in UNIVERSAL INSURANCE HOLDINGS INC by 2.1% during the second quarter. Renaissance Group LLC now owns 13,598 shares of the insurance provider’s stock valued at $343,000 after purchasing an additional 280 shares during the period. Legal & General Group Plc boosted its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 1.1% in the first quarter. Legal & General Group Plc now owns 54,457 shares of the insurance provider’s stock worth $1,332,000 after acquiring an additional 584 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock worth $118,000 after acquiring an additional 703 shares during the period. 73.46% of the stock is owned by institutional investors.

About UNIVERSAL INSURANCE HOLDINGS INC

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

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