Universal Insurance (NYSE:UVE) Hits New 12-Month High at $22.50

Universal Insurance Holdings, Inc. (NYSE:UVE) hit a new 52-week high on Wednesday . The stock traded as high as $22.50 and last traded at $22.36, with a volume of 22129 shares changing hands. The stock had previously closed at $22.01.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th.

Universal Insurance Trading Up 2.8 %

The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $20.08 and its 200 day moving average price is $19.66. The company has a market capitalization of $651.74 million, a P/E ratio of 8.63 and a beta of 0.89.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. The company had revenue of $380.21 million during the quarter, compared to the consensus estimate of $340.09 million. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. During the same period in the previous year, the firm posted $0.87 earnings per share. As a group, equities research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 2nd. Universal Insurance’s payout ratio is presently 25.10%.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the sale, the chairman now directly owns 1,122,262 shares of the company’s stock, valued at approximately $22,445,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jon Springer sold 35,173 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the sale, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, the chairman now owns 1,122,262 shares in the company, valued at $22,445,240. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by insiders.

Institutional Trading of Universal Insurance

Several institutional investors and hedge funds have recently bought and sold shares of UVE. Quarry LP raised its position in shares of Universal Insurance by 424.4% during the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after buying an additional 1,129 shares in the last quarter. Occidental Asset Management LLC bought a new position in shares of Universal Insurance during the 2nd quarter valued at $196,000. SG Americas Securities LLC grew its holdings in shares of Universal Insurance by 17.4% during the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,833 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Universal Insurance in the 1st quarter worth $289,000. Finally, State Board of Administration of Florida Retirement System bought a new stake in Universal Insurance in the 1st quarter worth $326,000. 66.61% of the stock is currently 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.