Universal Insurance (NYSE:UVE) Hits New 12-Month High - Here's Why

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.88 and last traded at $26.86, with a volume of 170783 shares traded. The stock had previously closed at $26.30.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th.

Universal Insurance Trading Up 2.1%

The firm's 50-day simple moving average is $23.94 and its 200-day simple moving average is $21.98. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $756.06 million, a PE ratio of 10.92 and a beta of 0.83.

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

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.38%. Universal Insurance's dividend payout ratio is currently 27.95%.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 26,393 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $25.61, for a total value of $675,924.73. Following the completion of the transaction, the director now directly owns 331,835 shares of the company's stock, valued at $8,498,294.35. This represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.34, for a total transaction of $526,800.00. Following the completion of the transaction, the chairman now directly owns 951,667 shares of the company's stock, valued at approximately $25,066,908.78. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,393 shares of company stock worth $2,085,925. Company insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors have recently bought and sold shares of UVE. Quarry LP bought a new position in Universal Insurance in the first quarter worth about $59,000. State of Wyoming bought a new position in Universal Insurance in the first quarter worth about $64,000. KLP Kapitalforvaltning AS bought a new position in shares of Universal Insurance during the fourth quarter valued at approximately $103,000. Quantbot Technologies LP increased its stake in shares of Universal Insurance by 45,981.8% during the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 5,058 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Universal Insurance during the fourth quarter valued at approximately $118,000. 66.61% of the stock is owned by institutional investors.

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.

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