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

Universal Insurance Holdings Inc (NYSE:UVE) shares hit a new 52-week high on Friday . The company 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Zacks Research cut Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Wall Street Zen downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Universal Insurance Stock Performance

The business’s 50-day moving average price is $38.06 and its 200-day moving average price is $34.54. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $1.15 billion, a P/E 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 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. The company had revenue of $398.16 million for the quarter, compared to analysts’ expectations of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. As a group, sell-side analysts expect that Universal Insurance Holdings Inc will post 4.63 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.16 dividend. 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 dividend payout ratio (DPR) is 9.48%.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chairman directly owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. The trade was a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 60,000 shares of company stock worth $2,332,800. 15.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Universal Insurance by 4.7% during 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 in the last quarter. Millennium Management LLC grew its holdings in Universal Insurance by 171.5% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. grew its holdings in Universal Insurance by 9.4% during the 1st 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 in the last quarter. Jane Street Group LLC raised its position 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 bought a new stake in shares of Universal Insurance during the first quarter valued at approximately $180,000. 66.61% of the stock is currently 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.