Universal Insurance (NYSE:UVE) Hits New 12-Month High – Here’s Why

Universal Insurance Holdings, Inc. (NYSE:UVE)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $26.88 and last traded at $26.86, with a volume of 170783 shares changing hands. The stock had previously closed at $26.30.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th.

Universal Insurance Stock Up 2.1%

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average is $23.94 and its 200-day moving average is $21.98. The company has a market cap of $756.06 million, a PE ratio of 10.92 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.32. The company had revenue of $394.87 million for the quarter, compared to analysts’ expectations of $354.97 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. On average, analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 2.38%. Universal Insurance’s payout ratio is 27.95%.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the sale, the chairman now directly owns 990,200 shares in the company, valued at $21,863,616. This trade represents a 1.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Springer sold 26,393 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $25.61, for a total transaction of $675,924.73. Following the sale, the director now owns 331,835 shares in the company, valued at $8,498,294.35. The trade was a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,393 shares of company stock worth $2,085,925 in the last three months. Company insiders own 16.60% of the company’s stock.

Institutional Trading of Universal Insurance

A number of large investors have recently made changes to their positions in the business. Donald Smith & CO. Inc. increased its holdings in shares of Universal Insurance by 6.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,836,718 shares of the insurance provider’s stock worth $43,530,000 after buying an additional 116,199 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Universal Insurance by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider’s stock worth $35,266,000 after buying an additional 4,480 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Universal Insurance by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider’s stock worth $31,510,000 after buying an additional 6,250 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock worth $19,083,000 after buying an additional 69,289 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Universal Insurance by 9.8% in the 1st quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider’s stock worth $15,847,000 after buying an additional 59,752 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.