Universal Insurance (NYSE:UVE) Shares Up 5.8% – Time to Buy?

Universal Insurance Holdings Inc (NYSE:UVE)’s stock price shot up 5.8% on Friday . The company traded as high as $37.21 and last traded at $37.5390. 41,477 shares traded hands during trading, a decline of 79% from the average session volume of 195,787 shares. The stock had previously closed at $35.48.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UVE. Zacks Research upgraded shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Wall Street Zen downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $40.00.

Universal Insurance Stock Performance

The stock has a market capitalization of $1.04 billion, a P/E ratio of 5.53 and a beta of 0.73. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $36.88 and a 200-day moving average price of $34.02.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.61. The firm had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. On average, sell-side analysts expect that Universal Insurance Holdings Inc will post 4.63 EPS for the current year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Universal Insurance’s dividend payout ratio is 9.48%.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.73, for a total transaction of $774,600.00. Following the completion of the sale, the chairman directly owned 1,168,255 shares in the company, valued at $45,246,516.15. The trade was a 1.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Kimberly D. Campos sold 879 shares of the business’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the sale, the chief accounting officer owned 7,422 shares of the company’s stock, valued at approximately $251,160.48. This represents a 10.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 60,879 shares of company stock valued at $2,290,145. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently made changes to their positions in the company. Sierra Summit Advisors LLC grew its stake in shares of Universal Insurance by 0.9% during the 1st quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock valued at $1,027,000 after purchasing an additional 282 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Universal Insurance by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider’s stock valued at $803,000 after purchasing an additional 348 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Universal Insurance by 1.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 405 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of Universal Insurance by 5.2% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock valued at $327,000 after purchasing an additional 474 shares during the period. Finally, Osaic Holdings Inc. grew its stake in shares of Universal Insurance by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 534 shares during the period. 66.61% of the stock is currently owned by institutional investors.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.