Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.38 and last traded at $20.61, with a volume of 121316 shares trading hands. The stock had previously closed at $20.30.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Piper Sandler restated an "overweight" rating and issued a $25.00 price objective on shares of Universal Insurance in a research note on Monday, April 1st. StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 4th. Finally, TheStreet raised Universal Insurance from a "c+" rating to a "b" rating in a research report on Monday, February 26th.
Check Out Our Latest Report on UVE
Universal Insurance Stock Down 3.7 %
The firm has a 50-day moving average price of $19.51 and a 200 day moving average price of $17.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market cap of $566.07 million, a price-to-earnings ratio of 8.88 and a beta of 0.83.
Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. The company had revenue of $375.46 million for the quarter, compared to the consensus estimate of $328.12 million. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. Sell-side analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.
Universal Insurance Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, May 9th. Universal Insurance's dividend payout ratio is presently 29.09%.
Insider Activity
In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the completion of the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at approximately $23,267,846.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.70% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. AJOVista LLC bought a new position in Universal Insurance during the 4th quarter worth $25,000. Versor Investments LP bought a new position in shares of Universal Insurance in the 3rd quarter worth about $140,000. Tompkins Financial Corp bought a new position in shares of Universal Insurance in the 3rd quarter worth about $153,000. Laurion Capital Management LP bought a new position in shares of Universal Insurance in the 3rd quarter worth about $154,000. Finally, Olympiad Research LP bought a new position in shares of Universal Insurance in the 3rd quarter worth about $174,000. 66.61% of the stock is currently owned by institutional investors.
About Universal Insurance
(
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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.
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