Universal Insurance (NYSE:UVE) Reaches New 1-Year High – What’s Next?

Shares of Universal Insurance Holdings, Inc. (NYSE:UVE) reached a new 52-week high on Monday . The stock traded as high as $27.00 and last traded at $25.54, with a volume of 3028 shares traded. The stock had previously closed at $26.01.

Analyst Upgrades and Downgrades

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

Universal Insurance Stock Performance

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 business has a fifty day simple moving average of $23.04 and a 200-day simple moving average of $21.60. The firm has a market cap of $727.55 million, a P/E ratio of 10.51 and a beta of 0.83.

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

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, May 9th. Universal Insurance’s payout ratio is 27.95%.

Insider Activity at Universal Insurance

In related news, Director Jon Springer sold 26,393 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $25.61, for a total value of $675,924.73. Following the completion of the transaction, the director now directly owns 331,835 shares of the company’s stock, valued at $8,498,294.35. This trade represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the transaction, the chairman now directly owns 990,200 shares of the company’s stock, valued at $21,863,616. This represents a 1.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,393 shares of company stock valued at $1,559,125 over the last 90 days. 16.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in shares of Universal Insurance during the 4th quarter valued at about $103,000. Quantbot Technologies LP boosted its holdings in Universal Insurance by 45,981.8% in the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock valued at $107,000 after purchasing an additional 5,058 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Universal Insurance in the fourth quarter valued at approximately $118,000. Aquatic Capital Management LLC purchased a new stake in shares of Universal Insurance during the fourth quarter worth approximately $121,000. Finally, Lazard Asset Management LLC increased its position in shares of Universal Insurance by 56.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider’s stock valued at $121,000 after buying an additional 2,083 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

About Universal Insurance

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.