Universal Insurance (NYSE:UVE) Hits New 52-Week High - What's Next?

Key Points

• Universal Insurance Holdings Inc's shares reached a new 52-week high of $28.57, with a trading volume of 139,346 shares.
• The company reported earnings of $1.23 per share, surpassing analysts' expectations of $1.09, and achieved a revenue of $596.72 million for the latest quarter.
• A quarterly dividend of $0.16 per share was recently paid, with an annualized yield of 2.3% and a payout ratio of 27.95%.

Shares of Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) reached a new 52-week high during trading on Friday . The company traded as high as $28.57 and last traded at $28.52, with a volume of 139346 shares. The stock had previously closed at $26.56.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on UVE shares. Wall Street Zen lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a report on Saturday, September 27th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy".

Universal Insurance Stock Up 6.7%

The stock has a 50-day moving average price of $24.67 and a 200-day moving average price of $24.85. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $802.84 million, a P/E ratio of 12.38 and a beta of 0.79.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.14. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. The business had revenue of $596.72 million during the quarter, compared to the consensus estimate of $359.98 million. On average, research analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, August 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.64 annualized dividend and a yield of 2.3%. Universal Insurance's payout ratio is currently 27.95%.

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 Thursday, September 4th. The shares were sold at an average price of $25.35, for a total transaction of $507,000.00. Following the sale, the chairman owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 16.60% of the stock is owned by insiders.

Institutional Trading of Universal Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of UVE. Voya Investment Management LLC grew its holdings in shares of Universal Insurance by 42.9% in the first quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider's stock worth $1,040,000 after purchasing an additional 13,177 shares during the last quarter. Informed Momentum Co LLC bought a new position in shares of Universal Insurance during the first quarter valued at about $855,000. Hsbc Holdings PLC bought a new position in shares of Universal Insurance during the first quarter valued at about $487,000. GAMMA Investing LLC boosted its holdings in shares of Universal Insurance by 3,499.2% during the first quarter. GAMMA Investing LLC now owns 17,348 shares of the insurance provider's stock worth $411,000 after purchasing an additional 16,866 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Universal Insurance in the first quarter worth about $2,197,000. Institutional investors own 66.61% of the company's stock.

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.

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.