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

Key Points

• Universal Insurance Holdings Inc (NYSE:UVE) reached a new 52-week high, trading at $30.48 before closing at $30.03, with a trading volume of 215,883 shares.
• Wall Street analysts have upgraded the company's stock rating, with Wall Street Zen moving from "buy" to "strong-buy" and an average rating of "buy" among analysts.
• Insider trading was noted as Chairman Sean P. Downes sold 20,000 shares at $25.35 each, representing a 1.51% decrease in his ownership of Universal Insurance stock.

Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $30.48 and last traded at $30.03, with a volume of 215883 shares. The stock had previously closed at $29.97.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Wall Street Zen raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Universal Insurance in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy".

Universal Insurance Stock Up 0.2%

The company has a market capitalization of $851.55 million, a price-to-earnings ratio of 13.13 and a beta of 0.79. The firm has a 50 day moving average price of $25.07 and a two-hundred day moving average price of $25.03. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.22.

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

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.35, for a total value of $507,000.00. Following the completion of the transaction, the chairman directly owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.60% of the company's stock.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently bought and sold shares of the business. 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. Ameritas Investment Partners Inc. lifted its holdings in Universal Insurance by 28.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider's stock worth $72,000 after acquiring an additional 577 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock worth $74,000 after acquiring an additional 2,114 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Universal Insurance by 57.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock worth $138,000 after acquiring an additional 2,127 shares during the last quarter. 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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