Universal Insurance Holdings, Inc. (NYSE:UVE) Short Interest Update

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totalling 294,000 shares, a drop of 21.5% from the April 15th total of 374,700 shares. Based on an average daily volume of 196,500 shares, the short-interest ratio is presently 1.5 days. Currently, 1.1% of the company's stock are sold short.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction dated 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 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 SEC, which can be accessed through this link. Corporate insiders own 17.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AJOVista LLC acquired a new stake in shares of Universal Insurance during the 4th quarter valued at about $25,000. Versor Investments LP bought a new stake in Universal Insurance in the third quarter worth approximately $140,000. Tompkins Financial Corp acquired a new position in shares of Universal Insurance during the 3rd quarter worth $153,000. Laurion Capital Management LP bought a new position in shares of Universal Insurance during the 3rd quarter valued at $154,000. Finally, Olympiad Research LP acquired a new stake in shares of Universal Insurance in the 3rd quarter valued at $174,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Insurance Price Performance

Shares of UVE traded up $0.33 during mid-day trading on Friday, hitting $20.57. The company's stock had a trading volume of 197,079 shares, compared to its average volume of 183,317. Universal Insurance has a fifty-two week low of $11.15 and a fifty-two week high of $22.38. The firm has a 50-day moving average price of $19.72 and a 200 day moving average price of $17.77. The stock has a market capitalization of $592.42 million, a price-to-earnings ratio of 8.07 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.44.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. The firm had revenue of $375.46 million for the quarter, compared to analysts' expectations of $328.12 million. On average, research analysts predict that Universal Insurance will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 3.11%. Universal Insurance's payout ratio is presently 25.10%.

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.