Jon Springer Sells 35,435 Shares of Universal Insurance (NYSE:UVE) Stock

Universal Insurance Holdings Inc (NYSE:UVE) Director Jon Springer sold 35,435 shares of the stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $31.41, for a total value of $1,113,013.35. Following the sale, the director owned 271,628 shares in the company, valued at approximately $8,531,835.48. This trade represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $30.76 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.56 and a quick ratio of 0.58. The firm has a market cap of $871.21 million, a P/E ratio of 7.26 and a beta of 0.79. The firm has a 50 day simple moving average of $27.08 and a 200 day simple moving average of $25.91. Universal Insurance Holdings Inc has a fifty-two week low of $18.72 and a fifty-two week high of $33.00.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.26. The business had revenue of $592.77 million during the quarter, compared to analyst estimates of $366.36 million. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. Sell-side analysts predict that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Institutional Trading of Universal Insurance

A number of institutional investors have recently bought and sold shares of UVE. Principal Financial Group Inc. grew its holdings in Universal Insurance by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 25,064 shares of the insurance provider’s stock worth $594,000 after acquiring an additional 649 shares during the period. Leavell Investment Management Inc. acquired a new stake in Universal Insurance during the 1st quarter worth $251,000. Victory Capital Management Inc. grew its holdings in Universal Insurance by 4.9% during the 1st quarter. Victory Capital Management Inc. now owns 11,971 shares of the insurance provider’s stock worth $284,000 after acquiring an additional 563 shares during the period. Bailard Inc. acquired a new stake in Universal Insurance during the 1st quarter worth $344,000. Finally, Allianz Asset Management GmbH grew its holdings in Universal Insurance by 9.0% during the 1st quarter. Allianz Asset Management GmbH now owns 103,535 shares of the insurance provider’s stock worth $2,454,000 after acquiring an additional 8,590 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UVE. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

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.