Universal Insurance (NYSE:UVE) Sets New 12-Month High on Better-Than-Expected Earnings

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) shares hit a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $25.64 and last traded at $24.23, with a volume of 85643 shares. The stock had previously closed at $23.39.

The insurance provider reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.32. The business had revenue of $394.87 million during the quarter, compared to analysts' expectations of $354.97 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.64%. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analyst Weigh In

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

Insider Activity at Universal Insurance

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of UVE. KLP Kapitalforvaltning AS purchased a new position in shares of Universal Insurance in the 4th quarter worth $103,000. Quantbot Technologies LP increased its holdings in shares of Universal Insurance by 45,981.8% in the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock worth $107,000 after purchasing an additional 5,058 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Universal Insurance in the 4th quarter worth approximately $121,000. Sunbelt Securities Inc. bought a new stake in shares of Universal Insurance in the 4th quarter worth about $118,000. Finally, Lazard Asset Management LLC boosted its holdings in Universal Insurance by 56.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after acquiring an additional 2,083 shares during the period. Hedge funds and other institutional investors own 66.61% of the company's stock.

Universal Insurance Stock Down 1.7 %

The stock has a market cap of $681.89 million, a PE ratio of 9.87 and a beta of 0.76. The business has a fifty day moving average of $22.25 and a 200-day moving average of $21.21. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

About Universal Insurance

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.