Universal Insurance (NYSE:UVE) Shares Down 5.7% - What's Next?

Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report)'s share price was down 5.7% during trading on Wednesday . The stock traded as low as $26.09 and last traded at $25.84. Approximately 42,076 shares traded hands during trading, a decline of 78% from the average daily volume of 194,920 shares. The stock had previously closed at $27.41.

Wall Street Analyst Weigh In

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

Universal Insurance Price Performance

The firm's 50-day simple moving average is $26.37 and its 200 day simple moving average is $22.92. The company has a market cap of $730.49 million, a P/E ratio of 11.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.50 and a current ratio of 0.50.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.12 by $0.32. The company had revenue of $394.87 million during the quarter, compared to analysts' expectations of $354.97 million. Universal Insurance had a net margin of 4.31% and a return on equity of 15.73%. On average, research analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Friday, May 9th. Universal Insurance's dividend payout ratio is currently 27.95%.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 25,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $26.91, for a total transaction of $672,750.00. Following the completion of the transaction, the chairman owned 926,667 shares in the company, valued at approximately $24,936,608.97. This represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jon Springer sold 30,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $27.06, for a total value of $811,800.00. Following the transaction, the director owned 301,835 shares of the company's stock, valued at approximately $8,167,655.10. This trade represents a 9.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,393 shares of company stock valued at $2,687,275. 16.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Universal Insurance

A number of large investors have recently added to or reduced their stakes in UVE. Millennium Management LLC increased its holdings in Universal Insurance by 171.5% during the 1st quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock worth $8,148,000 after purchasing an additional 217,184 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in Universal Insurance by 11.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock worth $36,234,000 after purchasing an additional 174,843 shares in the last quarter. Nuveen LLC bought a new position in Universal Insurance during the 1st quarter worth about $2,197,000. Goldman Sachs Group Inc. increased its holdings in 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 in the last quarter. Finally, American Century Companies Inc. increased its holdings in Universal Insurance by 9.8% during the 1st 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. 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.