Universal Insurance (NYSE:UVE) has been assigned a $32.00 price target by analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Monday. The firm presently has a “buy” rating on the insurance provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 10.92% from the company’s current price.

Separately, ValuEngine raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 6th.

Shares of Universal Insurance (UVE) opened at $28.85 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $993.69, a price-to-earnings ratio of 12.33 and a beta of 1.88. Universal Insurance has a 12 month low of $15.07 and a 12 month high of $29.45.

Universal Insurance (NYSE:UVE) last announced its earnings results on Wednesday, November 8th. The insurance provider reported $0.28 earnings per share for the quarter. Universal Insurance had a return on equity of 20.90% and a net margin of 11.55%.

Universal Insurance announced that its board has approved a share buyback program on Wednesday, November 8th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the insurance provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

In other news, Director Michael Pietrangelo sold 9,969 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.27, for a total value of $261,885.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 10.50% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Pinebridge Investments L.P. raised its stake in shares of Universal Insurance by 0.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock worth $108,000 after buying an additional 30 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Universal Insurance by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock worth $118,000 after buying an additional 703 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Universal Insurance by 6.6% during the second quarter. Thrivent Financial For Lutherans now owns 19,640 shares of the insurance provider’s stock worth $495,000 after purchasing an additional 1,210 shares during the period. Principal Financial Group Inc. raised its position in shares of Universal Insurance by 0.6% during the second quarter. Principal Financial Group Inc. now owns 282,359 shares of the insurance provider’s stock worth $7,116,000 after purchasing an additional 1,772 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Universal Insurance by 5.1% during the third quarter. New York State Common Retirement Fund now owns 55,772 shares of the insurance provider’s stock worth $1,283,000 after purchasing an additional 2,693 shares during the period. 77.97% of the stock is currently owned by institutional investors.

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About Universal Insurance

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

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