Universal Insurance Holdings Inc (UVE) Shares Gap Up to $17.85

Shares of Universal Insurance Holdings Inc (NYSE:UVE) gapped up prior to trading on Monday . The stock had previously closed at $15.35, but opened at $17.85. Universal Insurance Holdings shares last traded at $20.05, with a volume of 2,296,506 shares trading hands.

Several analysts have issued reports on UVE shares. ValuEngine cut Universal Insurance Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 18th. BidaskClub cut Universal Insurance Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 target price on shares of Universal Insurance Holdings in a report on Friday, August 18th.

The company has a market capitalization of $698.66 million, a P/E ratio of 7.10 and a beta of 1.84. The stock’s 50 day moving average is $22.46 and its 200 day moving average is $24.16.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, September 12th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Monday, September 11th. Universal Insurance Holdings’s payout ratio is 19.93%.

Large investors have recently made changes to their positions in the company. Pinebridge Investments L.P. grew its position in shares of Universal Insurance Holdings by 0.7% in the second quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 30 shares during the period. Victory Capital Management Inc. grew its position in shares of Universal Insurance Holdings by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock valued at $118,000 after purchasing an additional 703 shares during the period. LS Investment Advisors LLC grew its position in shares of Universal Insurance Holdings by 332.6% in the first quarter. LS Investment Advisors LLC now owns 5,105 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 3,925 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Universal Insurance Holdings in the second quarter valued at $125,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Universal Insurance Holdings by 7.8% in the first quarter. Envestnet Asset Management Inc. now owns 5,159 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 372 shares during the period. 73.35% of the stock is owned by institutional investors and hedge funds.

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Universal Insurance Holdings Company Profile

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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