Universal Insurance (NYSE:UVE) Share Price Passes Above 50-Day Moving Average – What’s Next?

Universal Insurance Holdings Inc (NYSE:UVE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $32.91 and traded as high as $33.87. Universal Insurance shares last traded at $33.7350, with a volume of 103,107 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Piper Sandler upped their price target on Universal Insurance from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, Universal Insurance has an average rating of “Buy” and an average target price of $40.00.

Universal Insurance Price Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market cap of $965.67 million, a P/E ratio of 5.46 and a beta of 0.69. The company has a 50-day moving average of $33.10 and a 200 day moving average of $31.82.

Universal Insurance (NYSE:UVE) last posted its earnings results on Tuesday, February 24th. The insurance provider reported $2.17 EPS for the quarter, topping the consensus estimate of $1.30 by $0.87. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%.The business had revenue of $403.57 million during the quarter, compared to the consensus estimate of $372.99 million. On average, sell-side analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, March 6th. Universal Insurance’s dividend payout ratio (DPR) is currently 10.14%.

Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $34.60, for a total transaction of $692,000.00. Following the completion of the sale, the chairman directly owned 1,206,788 shares of the company’s stock, valued at $41,754,864.80. This trade represents a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Kimberly D. Campos sold 879 shares of the firm’s stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the sale, the chief accounting officer directly owned 7,422 shares of the company’s stock, valued at $251,160.48. This represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.60% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in shares of Universal Insurance in the 3rd quarter valued at $32,000. Torren Management LLC acquired a new stake in shares of Universal Insurance in the 4th quarter valued at $54,000. Tower Research Capital LLC TRC increased its stake in shares of Universal Insurance by 390.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares during the period. IFP Advisors Inc increased its stake in shares of Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock valued at $95,000 after buying an additional 2,324 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Universal Insurance by 11.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock valued at $146,000 after buying an additional 534 shares during the period. 66.61% of the stock is owned by institutional investors and hedge funds.

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.