Universal Insurance (NYSE:UVE) Share Price Crosses Below Two Hundred Day Moving Average of $18.39

Universal Insurance Holdings, Inc. (NYSE:UVE) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $18.39 and traded as low as $18.18. Universal Insurance shares last traded at $18.33, with a volume of 249,338 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on UVE shares. StockNews.com upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price target on shares of Universal Insurance in a report on Monday, April 1st. Finally, TheStreet upgraded shares of Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th.

Universal Insurance Trading Down 2.2 %

The firm has a market capitalization of $527.90 million, a PE ratio of 7.19 and a beta of 0.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.44. The firm’s fifty day moving average is $19.53 and its two-hundred day moving average is $18.39.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, April 25th. The insurance provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.03. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. The company had revenue of $367.96 million during the quarter, compared to analyst estimates of $336.09 million. On average, equities analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.49%. The ex-dividend date was Thursday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is currently 25.10%.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total value of $394,400.00. Following the sale, the chairman now directly owns 1,162,262 shares of the company’s stock, valued at $22,919,806.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Michael Pietrangelo sold 12,351 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $20.43, for a total value of $252,330.93. Following the transaction, the director now owns 80,074 shares of the company’s stock, valued at $1,635,911.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total value of $394,400.00. Following the transaction, the chairman now owns 1,162,262 shares in the company, valued at $22,919,806.64. The disclosure for this sale can be found here. Insiders have sold a total of 52,351 shares of company stock valued at $1,012,931 over the last quarter. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Institutional investors have recently made changes to their positions in the business. CWA Asset Management Group LLC bought a new position in Universal Insurance during the 3rd quarter valued at approximately $7,935,000. Donald Smith & CO. Inc. increased its stake in shares of Universal Insurance by 31.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider’s stock valued at $27,201,000 after purchasing an additional 404,446 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Universal Insurance in the 4th quarter worth approximately $6,387,000. Acadian Asset Management LLC grew its stake in shares of Universal Insurance by 250.2% in the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock worth $4,765,000 after buying an additional 242,895 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in Universal Insurance in the fourth quarter worth $1,901,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.