Universal Insurance (NYSE:UVE) Hits New 1-Year High - Here's Why

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $25.77 and last traded at $25.70, with a volume of 128406 shares traded. The stock had previously closed at $25.24.

Analyst Ratings Changes

Separately, StockNews.com upgraded Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th.

Universal Insurance Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The business's 50 day moving average price is $22.52 and its 200 day moving average price is $21.32. The firm has a market cap of $720.62 million, a price-to-earnings ratio of 10.39 and a beta of 0.76.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.32. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $394.87 million during the quarter, compared to analysts' expectations of $354.97 million. On average, equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 9th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 2.50%. Universal Insurance's dividend payout ratio is currently 27.95%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the transaction, the chairman now directly owns 990,200 shares of the company's stock, valued at approximately $21,863,616. This represents a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.50% of the stock is owned by corporate insiders.

Institutional Trading of Universal Insurance

Several large investors have recently bought and sold shares of the business. CWA Asset Management Group LLC increased its stake in shares of Universal Insurance by 100.0% in the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock worth $12,017,000 after acquiring an additional 285,338 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Universal Insurance by 10.4% in the 4th quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock valued at $12,823,000 after buying an additional 57,424 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Universal Insurance by 128,888.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider's stock worth $1,222,000 after buying an additional 58,000 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Universal Insurance by 35.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock valued at $3,263,000 after buying an additional 38,767 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Universal Insurance by 62.5% in the fourth quarter. Rhumbline Advisers now owns 61,935 shares of the insurance provider's stock valued at $1,304,000 after acquiring an additional 23,830 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.