Universal Insurance (NYSE:UVE) Reaches New 52-Week High - Time to Buy?

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) hit a new 52-week high during 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.

Analysts Set New Price Targets

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

Universal Insurance Trading Down 1.7%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $719.81 million, a price-to-earnings ratio of 10.39 and a beta of 0.83. The company's 50-day moving average is $22.87 and its 200-day moving average is $21.53.

Universal Insurance (NYSE:UVE - Get Free Report) last announced 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. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $394.87 million during the quarter, compared to analyst estimates of $354.97 million. On average, research analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Dividend Announcement

The company also recently declared 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, May 9th. Universal Insurance's payout ratio is 27.95%.

Insider Activity at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 26,393 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total value of $675,924.73. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the transaction, the chairman now owns 990,200 shares of the company's stock, valued at approximately $21,863,616. The trade was a 1.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,393 shares of company stock worth $1,559,125 over the last ninety days. Insiders own 16.60% of the company's stock.

Institutional Trading of Universal Insurance

A number of institutional investors have recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new stake in shares of Universal Insurance during the fourth quarter valued at approximately $103,000. Quantbot Technologies LP lifted its stake in shares of Universal Insurance by 45,981.8% during the 4th 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. Sunbelt Securities Inc. purchased a new stake in shares of Universal Insurance during the fourth quarter worth about $118,000. Aquatic Capital Management LLC purchased a new stake in Universal Insurance during the 4th quarter valued at about $121,000. Finally, Lazard Asset Management LLC grew its position 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 worth $121,000 after purchasing an additional 2,083 shares during the period. Hedge funds and other 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.

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