Universal Insurance (UVE) Set to Announce Quarterly Earnings on Thursday

Universal Insurance (NYSE:UVE - Get Free Report) will be issuing its quarterly earnings data after the market closes on Thursday, April 25th. Analysts expect the company to announce earnings of $1.04 per share for the quarter. Investors that are interested in participating in the company's conference call can do so using this link.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.20. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. The business had revenue of $375.46 million for the quarter, compared to analysts' expectations of $328.12 million. On average, analysts expect Universal Insurance to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Universal Insurance Stock Up 1.1 %

Universal Insurance stock traded up $0.21 during trading hours on Thursday, reaching $18.99. The stock had a trading volume of 136,284 shares, compared to its average volume of 185,507. The company has a market cap of $550.14 million, a price-to-earnings ratio of 8.66 and a beta of 0.83. The business's 50 day moving average price is $19.12 and its 200-day moving average price is $17.01. Universal Insurance has a 52 week low of $11.15 and a 52 week high of $21.75. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, May 9th. Universal Insurance's payout ratio is currently 29.09%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.53, for a total transaction of $390,600.00. Following the sale, the chairman now directly owns 1,191,390 shares of the company's stock, valued at $23,267,846.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its holdings in shares of Universal Insurance by 36.2% during the first quarter. Advisor Group Holdings Inc. now owns 30,515 shares of the insurance provider's stock worth $411,000 after purchasing an additional 8,118 shares during the period. Swiss National Bank lifted its stake in Universal Insurance by 7.3% during the 1st quarter. Swiss National Bank now owns 66,400 shares of the insurance provider's stock valued at $896,000 after acquiring an additional 4,500 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Universal Insurance by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 412,217 shares of the insurance provider's stock valued at $5,561,000 after acquiring an additional 11,696 shares during the last quarter. Citigroup Inc. increased its stake in shares of Universal Insurance by 13.9% in the first quarter. Citigroup Inc. now owns 25,660 shares of the insurance provider's stock worth $346,000 after acquiring an additional 3,126 shares during the period. Finally, MetLife Investment Management LLC increased its stake in shares of Universal Insurance by 55.1% in the first quarter. MetLife Investment Management LLC now owns 14,719 shares of the insurance provider's stock worth $199,000 after acquiring an additional 5,231 shares during the period. 66.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on UVE. TheStreet upgraded shares of Universal Insurance from a "c+" rating to a "b" rating in a research note on Monday, February 26th. Piper Sandler reissued an "overweight" rating and issued a $25.00 price objective on shares of Universal Insurance in a research report on Monday, April 1st. Finally, StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 4th.

Universal Insurance Company Profile

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.