Universal Insurance (NYSE:UVE) Stock Passes Below 200 Day Moving Average of $18.52

Universal Insurance Holdings, Inc. (NYSE:UVE)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.52 and traded as low as $18.05. Universal Insurance shares last traded at $18.26, with a volume of 58,127 shares changing hands.

Analyst Ratings Changes

Several brokerages recently weighed in on UVE. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a research report on Monday, April 1st. StockNews.com upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th.

Universal Insurance Price Performance

The company has a market capitalization of $525.89 million, a P/E ratio of 7.16 and a beta of 0.88. The business’s 50-day simple moving average is $19.37 and its 200 day simple moving average is $18.52. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.28.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $336.09 million. As a group, sell-side analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were paid a $0.16 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.50%. Universal Insurance’s dividend payout ratio is currently 25.10%.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $22,919,806.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael Pietrangelo sold 12,351 shares of Universal Insurance stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.43, for a total value of $252,330.93. Following the transaction, the director now directly 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 is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total transaction of $394,400.00. Following the completion of the transaction, the chairman now directly 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 52,351 shares of company stock valued at $1,012,931 in the last quarter. Insiders own 17.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. AJOVista LLC purchased a new position in shares of Universal Insurance in the fourth quarter worth approximately $25,000. Tompkins Financial Corp purchased a new position in shares of Universal Insurance in the third quarter worth approximately $153,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Universal Insurance in the first quarter worth approximately $289,000. Aigen Investment Management LP purchased a new position in shares of Universal Insurance in the fourth quarter worth approximately $296,000. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Universal Insurance in the first quarter worth approximately $326,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

Universal Insurance Company Profile

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.