Shares of Universal Insurance Holdings Inc (NYSE:UVE) reached a new 52-week high and low on Wednesday . The company traded as low as $35.20 and last traded at $35.10, with a volume of 2733 shares traded. The stock had previously closed at $34.55.
A number of analysts have weighed in on UVE shares. ValuEngine cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 18th. Keefe, Bruyette & Woods set a $35.00 price objective on Universal Insurance and gave the stock a “buy” rating in a research report on Tuesday, April 10th.
The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.81 and a beta of 1.72.
Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Tuesday, February 20th. The insurance provider reported $1.03 earnings per share for the quarter. The company had revenue of $201.31 million during the quarter. Universal Insurance had a return on equity of 26.52% and a net margin of 15.07%.
The firm also recently announced a quarterly dividend, which was paid on Friday, May 4th. Stockholders of record on Friday, April 27th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, April 26th.
In other news, CEO Sean P. Downes sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $32.78, for a total transaction of $1,639,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,499,141 shares of the company’s stock, valued at approximately $49,141,841.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Scott P. Callahan sold 2,600 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $30.53, for a total value of $79,378.00. Following the transaction, the director now directly owns 8,536 shares of the company’s stock, valued at $260,604.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,176 shares of company stock valued at $3,312,426. Company insiders own 10.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Universal Insurance by 3.0% during the 1st quarter. Legal & General Group Plc now owns 60,227 shares of the insurance provider’s stock worth $1,916,000 after buying an additional 1,736 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Universal Insurance by 51.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 133,091 shares of the insurance provider’s stock worth $4,246,000 after buying an additional 45,169 shares in the last quarter. Element Capital Management LLC purchased a new position in shares of Universal Insurance during the 1st quarter worth approximately $282,000. Barclays PLC raised its stake in shares of Universal Insurance by 104.4% during the 1st quarter. Barclays PLC now owns 27,436 shares of the insurance provider’s stock worth $875,000 after buying an additional 14,011 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new position in shares of Universal Insurance during the 1st quarter worth approximately $781,000. 74.66% of the stock is owned by institutional investors and hedge funds.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.
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