Universal Insurance (NYSE:UVE) Sets New 1-Year High - Here's What Happened

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) shares reached a new 52-week high during trading on Monday . The company traded as high as $27.60 and last traded at $27.58, with a volume of 69622 shares changing hands. The stock had previously closed at $27.14.

Wall Street Analyst Weigh In

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

Universal Insurance Stock Up 0.3%

The stock has a market capitalization of $774.02 million, a price-to-earnings ratio of 11.18 and a beta of 0.87. The business has a 50-day moving average of $24.72 and a 200-day moving average of $22.26. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.32. The company 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%. On average, sell-side analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were paid a $0.16 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.33%. Universal Insurance's payout ratio is presently 27.95%.

Insider Buying and Selling

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $27.06, for a total value of $811,800.00. Following the completion of the transaction, the director now owns 301,835 shares in the company, valued at $8,167,655.10. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.34, for a total value of $526,800.00. Following the completion of the sale, the chairman now owns 951,667 shares in the company, 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. In the last 90 days, insiders have sold 76,393 shares of company stock valued at $2,014,525. Corporate insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Universal Insurance by 171.5% in the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock valued at $8,148,000 after acquiring an additional 217,184 shares in the last quarter. Donald Smith & CO. Inc. increased its position in shares of Universal Insurance by 11.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock valued at $36,234,000 after purchasing an additional 174,843 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Universal Insurance during the 1st quarter worth $2,197,000. Goldman Sachs Group Inc. lifted its position in shares of Universal Insurance by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock worth $19,083,000 after purchasing an additional 69,289 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Universal Insurance by 9.8% during the first quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider's stock worth $15,847,000 after purchasing an additional 59,752 shares in 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.