Universal Insurance (NYSE:UVE) Stock Price Down 6.4% – Time to Sell?

Shares of Universal Insurance Holdings Inc (NYSE:UVE) were down 6.4% during trading on Friday . The stock traded as low as $32.22 and last traded at $31.6460. Approximately 29,425 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 202,660 shares. The stock had previously closed at $33.80.

Analyst Upgrades and Downgrades

UVE has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Zacks Research cut shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 23rd. Finally, Piper Sandler upped their price objective on Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

Universal Insurance Stock Performance

The stock has a 50 day moving average price of $33.12 and a two-hundred day moving average price of $28.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $888.09 million, a price-to-earnings ratio of 7.47 and a beta of 0.74.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.26. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. The firm had revenue of $400.03 million during the quarter, compared to analysts’ expectations of $366.36 million. On average, analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently announced a special dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, December 5th were given a dividend of $0.13 per share. The ex-dividend date was Friday, December 5th. Universal Insurance’s payout ratio is presently 15.09%.

Insider Transactions at Universal Insurance

In related news, CEO Stephen Donaghy sold 25,000 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $34.07, for a total value of $851,750.00. Following the completion of the sale, the chief executive officer owned 679,961 shares in the company, valued at approximately $23,166,271.27. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $33.82, for a total transaction of $676,400.00. Following the transaction, the chairman owned 1,243,512 shares of the company’s stock, valued at approximately $42,055,575.84. This represents a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 146,598 shares of company stock valued at $4,839,579 in the last three months. Company insiders own 16.60% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

A number of large investors have recently modified their holdings of UVE. Trexquant Investment LP raised its holdings in Universal Insurance by 7.6% during the first quarter. Trexquant Investment LP now owns 81,899 shares of the insurance provider’s stock worth $1,941,000 after acquiring an additional 5,767 shares in the last quarter. State of Wyoming acquired a new position in shares of Universal Insurance during the 1st quarter worth approximately $64,000. Quarry LP bought a new stake in shares of Universal Insurance during the 1st quarter worth approximately $59,000. Graham Capital Management L.P. boosted its holdings in shares of Universal Insurance by 2.7% in the 1st quarter. Graham Capital Management L.P. now owns 24,656 shares of the insurance provider’s stock valued at $584,000 after buying an additional 653 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Universal Insurance during the first quarter worth $1,333,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Company Profile

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.