Universal Insurance (NYSE:UVE) Director Sells 1,855 Shares

Universal Insurance Holdings Inc (NYSE:UVE) Director Richard Peterson sold 1,855 shares of the stock in a transaction dated Tuesday, December 30th. The shares were sold at an average price of $33.61, for a total value of $62,346.55. Following the completion of the transaction, the director owned 8,319 shares in the company, valued at approximately $279,601.59. The trade was a 18.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Universal Insurance Stock Up 0.2%

UVE traded up $0.08 on Wednesday, reaching $33.81. The company’s stock had a trading volume of 291,484 shares, compared to its average volume of 202,651. The stock has a 50 day moving average of $32.91 and a two-hundred day moving average of $28.18. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $948.37 million, a price-to-earnings ratio of 7.97 and a beta of 0.74. Universal Insurance Holdings Inc has a fifty-two week low of $18.72 and a fifty-two week high of $35.84.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.26. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. The company had revenue of $400.03 million for the quarter, compared to analysts’ expectations of $366.36 million. As a group, analysts forecast 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. Investors of record on Friday, December 5th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 5th. Universal Insurance’s payout ratio is 15.09%.

Wall Street Analyst Weigh In

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

Institutional Trading of Universal Insurance

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in shares of Universal Insurance in the 3rd quarter valued at approximately $32,000. Quarry LP acquired a new stake in shares of Universal Insurance during the first quarter worth $59,000. State of Wyoming acquired a new stake in shares of Universal Insurance during the first quarter worth $64,000. Ameritas Investment Partners Inc. grew its position in Universal Insurance by 28.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock valued at $72,000 after buying an additional 577 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in 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. 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.