Shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.77 and last traded at $25.70, with a volume of 128406 shares changing hands. The stock had previously closed at $25.24.
Analysts Set New Price Targets
Separately, StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th.
View Our Latest Stock Analysis on Universal Insurance
Universal Insurance Stock Performance
The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The stock's 50-day moving average is $22.87 and its 200 day moving average is $21.52. The stock has a market cap of $732.90 million, a price-to-earnings ratio of 10.59 and a beta of 0.83.
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 (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.32. The firm had revenue of $394.87 million during the quarter, compared to analysts' expectations of $354.97 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. As a group, analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, May 9th. Universal Insurance's dividend payout ratio is currently 27.95%.
Insider Activity
In other Universal Insurance news, Director Jon Springer sold 26,393 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total transaction of $675,924.73. Following the sale, the director now owns 331,835 shares in the company, valued at approximately $8,498,294.35. This represents a 7.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the business's 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 trade represents a 1.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,393 shares of company stock worth $1,559,125. Company insiders own 17.50% of the company's stock.
Institutional Trading of Universal Insurance
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Donald Smith & CO. Inc. lifted its stake in shares of Universal Insurance by 11.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock worth $36,234,000 after purchasing an additional 174,843 shares during the period. Vanguard Group Inc. raised its holdings in shares of Universal Insurance by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider's stock worth $35,266,000 after purchasing an additional 4,480 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Universal Insurance by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider's stock worth $31,510,000 after purchasing an additional 6,250 shares during the period. American Century Companies Inc. lifted 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 purchasing an additional 57,424 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Universal Insurance by 0.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 366,877 shares of the insurance provider's stock worth $7,726,000 after purchasing an additional 2,181 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company's stock.
About Universal Insurance
(
Get Free Report)
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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