Universal Insurance (NYSE:UVE) Trading 5.8% Higher – Here’s Why

Universal Insurance Holdings Inc (NYSE:UVE)’s stock price rose 5.8% during trading on Friday . The company traded as high as $37.21 and last traded at $37.5390. Approximately 41,477 shares were traded during trading, a decline of 79% from the average daily volume of 195,787 shares. The stock had previously closed at $35.48.

Wall Street Analyst Weigh In

UVE has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a research report on Monday, April 20th. Finally, Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $40.00.

Universal Insurance Price Performance

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 5.53 and a beta of 0.73. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The business’s 50 day simple moving average is $36.82 and its 200-day simple moving average is $33.99.

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

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Universal Insurance’s dividend payout ratio is presently 9.48%.

Insider Transactions at Universal Insurance

In other Universal Insurance news, CAO Kimberly D. Campos sold 879 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total transaction of $29,745.36. Following the sale, the chief accounting officer directly owned 7,422 shares in the company, valued at $251,160.48. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.73, for a total transaction of $774,600.00. Following the sale, the chairman owned 1,168,255 shares in the company, valued at $45,246,516.15. The trade was a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,879 shares of company stock worth $2,290,145 over the last quarter. Corporate insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

A number of hedge funds have recently made changes to their positions in UVE. Torren Management LLC acquired a new stake in shares of Universal Insurance in the 4th quarter valued at approximately $54,000. Tower Research Capital LLC TRC boosted its stake in shares of Universal Insurance by 390.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,114 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Universal Insurance by 4,847.3% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 2,666 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock valued at $95,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Archer Investment Corp acquired a new stake in shares of Universal Insurance in the 1st quarter valued at approximately $95,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

About Universal Insurance

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.