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

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $27.00 and last traded at $25.54, with a volume of 3028 shares trading hands. The stock had previously closed at $26.01.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th.

Universal Insurance Trading Down 0.2%

The business's 50 day simple moving average is $23.35 and its two-hundred day simple moving average is $21.72. The stock has a market cap of $744.66 million, a P/E ratio of 10.76 and a beta of 0.83. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.32. The firm had revenue of $394.87 million for 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%. As a group, analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were paid 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 2.42%. Universal Insurance's payout ratio is presently 27.95%.

Insider Transactions at Universal Insurance

In other news, Director Jon Springer sold 26,393 shares of Universal Insurance stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $25.61, for a total transaction of $675,924.73. Following the transaction, the director now owns 331,835 shares in the company, valued at approximately $8,498,294.35. The trade was a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance 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 transaction, the chairman now owns 990,200 shares in the company, valued at approximately $21,863,616. This trade represents a 1.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have 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

Hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted 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 buying an additional 217,184 shares during the period. Donald Smith & CO. Inc. lifted its holdings in Universal Insurance by 11.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock valued at $36,234,000 after buying an additional 174,843 shares during the period. Nuveen LLC acquired a new position in Universal Insurance in the first quarter valued at $2,197,000. Goldman Sachs Group Inc. lifted its holdings in Universal Insurance by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock valued at $19,083,000 after buying an additional 69,289 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Universal Insurance by 9.8% in the first quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider's stock valued at $15,847,000 after buying an additional 59,752 shares during the period. Institutional investors and hedge funds 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.