Universal Insurance (NYSE:UVE) Hits New 12-Month High – What’s Next?

Universal Insurance Holdings Inc (NYSE:UVE) shares reached a new 52-week high on Friday . The stock traded as high as $41.96 and last traded at $41.26, with a volume of 735620 shares trading hands. The stock had previously closed at $39.47.

Wall Street Analyst Weigh In

Several brokerages have commented on UVE. Wall Street Zen cut shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research lowered Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Universal Insurance presently has an average rating of “Moderate Buy” and an average price target of $40.00.

Universal Insurance Stock Up 4.5%

The business’s 50 day simple moving average is $38.06 and its 200 day simple moving average is $34.54. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1.15 billion, a PE ratio of 6.11 and a beta of 0.73.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.61. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. The firm had revenue of $398.16 million for the quarter, compared to analysts’ expectations of $481.09 million. On average, equities research analysts forecast that Universal Insurance Holdings Inc will post 4.63 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.64 annualized dividend and a dividend yield of 1.6%. Universal Insurance’s payout ratio is currently 9.48%.

Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the sale, the chairman owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 60,000 shares of company stock worth $2,332,800. Corporate insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in UVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Universal Insurance by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock worth $331,000 after purchasing an additional 630 shares during the last quarter. Millennium Management LLC grew its stake in shares of Universal Insurance by 171.5% during the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock valued at $8,148,000 after buying an additional 217,184 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Universal Insurance by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after buying an additional 69,289 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Universal Insurance by 73.1% during the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider’s stock valued at $1,939,000 after buying an additional 34,556 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Universal Insurance in the first quarter worth approximately $180,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.