Universal Insurance (NYSE:UVE) Releases Earnings Results, Beats Estimates By $0.36 EPS

Key Points

• Universal Insurance reported quarterly EPS of $1.93, beating analysts’ $1.57 consensus estimate by $0.36. However, revenue of $444.31 million fell short of the $601.67 million estimate.
• The company posted a 13.49% net margin and 37.67% return on equity; shares traded near $48.38, close to their 52-week high of $48.74.
• Analyst sentiment is moderately positive, with an average “Moderate Buy” rating and a $45 consensus price target. Chairman Sean Downes also sold 20,000 shares for approximately $879,600, reducing his position by 1.81%.

Universal Insurance (NYSE:UVE - Get Free Report) posted its earnings results on Thursday. The insurance provider reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.36, FiscalAI reports. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. The firm had revenue of $444.31 million for the quarter, compared to the consensus estimate of $601.67 million.

Universal Insurance Stock Performance

Shares of UVE stock traded up $0.65 during trading hours on Thursday, hitting $48.38. The stock had a trading volume of 208,285 shares, compared to its average volume of 199,453. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $1.35 billion, a PE ratio of 6.38 and a beta of 0.69. The stock's 50 day moving average is $44.11 and its 200 day moving average is $40.91. Universal Insurance has a twelve month low of $28.00 and a twelve month high of $48.74.

Analyst Upgrades and Downgrades

UVE has been the subject of a number of research reports. Weiss Ratings raised shares of Universal Insurance from a "buy (a-)" rating to a "buy (a+)" rating in a research report on Thursday, October 8th. Piper Sandler raised their price objective on Universal Insurance from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Wall Street Zen upgraded Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 3rd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Universal Insurance currently has an average rating of "Moderate Buy" and a consensus price target of $45.00.

Insider Activity at Universal Insurance

In other news, Chairman Sean Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, September 11th. The shares were sold at an average price of $43.98, for a total value of $879,600.00. Following the transaction, the chairman directly owned 1,084,645 shares of the company's stock, valued at $47,702,687.10. The trade was a 1.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 15.00% of the stock is owned by insiders.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc NYSE: UVE is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

The company's offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.

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