70,651 Shares in Universal Insurance Holdings Inc $UVE Acquired by Sowell Financial Services LLC

Key Points

• Sowell Financial Services purchased a new stake of 70,651 shares in Universal Insurance (UVE) in Q4, valued at about $2.39 million, representing roughly 0.25% of the company; institutional investors own about 66.61% and corporate insiders hold 16.60%, with the chairman recently selling 20,000 shares.
• Several analysts have upgraded UVE to Buy/Strong‑Buy—MarketBeat shows a consensus rating of Buy and a consensus price target of $40—and the company recently reported a strong quarterly beat (EPS $2.17 vs. $1.30), trades at a low P/E of 5.35 and has a market cap near $945M.

Sowell Financial Services LLC purchased a new position in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 70,651 shares of the insurance provider's stock, valued at approximately $2,388,000. Sowell Financial Services LLC owned about 0.25% of Universal Insurance at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of Universal Insurance in the 3rd quarter worth $32,000. Tower Research Capital LLC TRC grew its holdings in shares of Universal Insurance by 390.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock valued at $74,000 after buying an additional 2,114 shares in the last quarter. Osaic Holdings Inc. grew its stake in Universal Insurance by 11.3% in the second 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 in the last quarter. Strs Ohio purchased a new position in Universal Insurance in the first quarter valued at about $180,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in Universal Insurance in the second quarter valued at about $202,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a research note on Wednesday, January 21st. Wall Street Zen raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Saturday, December 27th. Piper Sandler upped their price target on Universal Insurance from $35.00 to $40.00 and gave the company an "overweight" rating in a report on Monday, December 22nd. Finally, Zacks Research upgraded Universal Insurance from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $40.00.

Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $34.60, for a total transaction of $692,000.00. Following the sale, the chairman owned 1,206,788 shares of the company's stock, valued at approximately $41,754,864.80. This trade represents a 1.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Kimberly D. Campos sold 879 shares of the firm's stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $33.84, for a total value of $29,745.36. Following the sale, the chief accounting officer directly owned 7,422 shares in the company, valued at $251,160.48. The trade was a 10.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 16.60% of the company's stock.

Universal Insurance Stock Performance

UVE stock opened at $33.74 on Tuesday. The business's fifty day moving average is $32.91 and its 200-day moving average is $31.74. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.18. The company has a market cap of $944.85 million, a P/E ratio of 5.35 and a beta of 0.69. Universal Insurance Holdings Inc has a twelve month low of $20.83 and a twelve month high of $36.68.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.87. The company had revenue of $403.57 million for the quarter, compared to the consensus estimate of $372.99 million. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%. Equities research analysts forecast that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, March 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.9%. Universal Insurance's dividend payout ratio is 10.14%.

About Universal Insurance

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.

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