Universal Insurance (NYSE:UVE) CEO Sells $851,750.00 in Stock

Universal Insurance Holdings Inc (NYSE:UVE) CEO Stephen Donaghy sold 25,000 shares of the company’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $34.07, for a total transaction of $851,750.00. Following the completion of the sale, the chief executive officer owned 679,961 shares of the company’s stock, valued at approximately $23,166,271.27. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Universal Insurance Stock Performance

Shares of Universal Insurance stock traded up $0.08 during trading hours on Wednesday, hitting $33.81. 291,484 shares of the company were exchanged, compared to its average volume of 202,651. Universal Insurance Holdings Inc has a 1 year low of $18.72 and a 1 year high of $35.84. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $32.91 and a 200-day moving average of $28.18. The stock has a market capitalization of $948.37 million, a price-to-earnings ratio of 7.97 and a beta of 0.74.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 EPS for the quarter, topping the consensus estimate of $1.10 by $0.26. The company had revenue of $400.03 million for the quarter, compared to analyst estimates of $366.36 million. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. As a group, analysts expect that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, December 5th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 5th. Universal Insurance’s dividend payout ratio (DPR) is currently 15.09%.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Universal Insurance during the 3rd quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Universal Insurance in the 1st quarter valued at $59,000. Ameritas Investment Partners Inc. increased its stake in shares of 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 period. Tower Research Capital LLC TRC raised its holdings in shares of Universal Insurance by 390.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,114 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Universal Insurance during the 1st quarter valued at about $64,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on UVE. Piper Sandler boosted their price objective on shares of Universal Insurance from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Zacks Research cut Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.00.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.