Universal Insurance (NYSE:UVE) Chairman Sean Downes Sells 20,000 Shares

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, September 11th. The shares were sold at an average price of $43.98, for a total value of $879,600.00. Following the transaction, the chairman owned 1,084,645 shares in the company, valued at $47,702,687.10. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Universal Insurance Stock Performance

NYSE:UVE opened at $44.21 on Friday. The stock has a 50-day simple moving average of $42.59 and a two-hundred day simple moving average of $38.78. Universal Insurance Holdings Inc has a 52-week low of $24.50 and a 52-week high of $45.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market capitalization of $1.23 billion, a PE ratio of 5.83 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.57 by $0.27. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%.The firm had revenue of $419.38 million for the quarter, compared to the consensus estimate of $614.62 million. Analysts forecast that Universal Insurance Holdings Inc will post 4.85 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, July 31st. Universal Insurance’s dividend payout ratio is currently 8.44%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UVE. Piper Sandler lifted their price target on shares of Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Weiss Ratings cut shares of Universal Insurance from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, September 2nd. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Zacks Research cut Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Universal Insurance has an average rating of “Hold” and an average target price of $45.00.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UVE. IFP Advisors Inc grew its holdings in Universal Insurance by 29.9% during the 2nd quarter. IFP Advisors Inc now owns 5,618 shares of the insurance provider’s stock valued at $232,000 after buying an additional 1,292 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Universal Insurance during the 2nd quarter valued at approximately $1,381,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Universal Insurance in the second quarter valued at $718,000. California State Teachers Retirement System increased its position in Universal Insurance by 4,666.2% in the second quarter. California State Teachers Retirement System now owns 1,178,098 shares of the insurance provider’s stock worth $48,726,000 after purchasing an additional 1,153,380 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Universal Insurance in the second quarter worth $253,000. 66.61% of the stock is owned by institutional investors.

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.