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

Universal Insurance Holdings, Inc. (NYSE:UVE) shares reached a new 52-week high on Monday . The company traded as high as $23.39 and last traded at $23.27, with a volume of 15201 shares trading hands. The stock had previously closed at $22.88.

Analyst Ratings Changes

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th.

Universal Insurance Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day moving average of $20.86 and a 200-day moving average of $20.04. The stock has a market capitalization of $650.01 million, a price-to-earnings ratio of 9.34 and a beta of 0.90.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.30. The business had revenue of $387.55 million for the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period in the previous year, the firm earned ($0.16) EPS. On average, equities analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Friday, December 6th. Universal Insurance’s payout ratio is 26.02%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 15,064 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $22.46, for a total value of $338,337.44. Following the completion of the sale, the chairman now owns 1,047,198 shares of the company’s stock, valued at approximately $23,520,067.08. The trade was a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 55,064 shares of company stock valued at $1,191,937. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in Universal Insurance by 69.5% during the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock worth $1,528,000 after purchasing an additional 28,278 shares during the period. Geode Capital Management LLC lifted its position in shares of Universal Insurance by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after buying an additional 49,123 shares during the period. EP Wealth Advisors LLC bought a new stake in Universal Insurance in the third quarter valued at $241,000. Jane Street Group LLC raised its stake in Universal Insurance by 2,142.1% during the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock worth $1,325,000 after acquiring an additional 57,108 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Universal Insurance by 55.6% during the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 776 shares during the period. 66.61% of the stock is owned by institutional investors and hedge funds.

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.