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

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

Wall Street Analyst Weigh In

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

Universal Insurance Stock Performance

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

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates 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 prior year, the business posted $0.87 EPS. Analysts expect that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.64 annualized dividend and a yield of 2.83%. Universal Insurance’s dividend payout ratio is currently 25.10%.

Insider Buying and Selling at Universal Insurance

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

Hedge Funds Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of UVE. Bank of Montreal Can lifted its holdings in Universal Insurance by 283.0% in the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after buying an additional 276,700 shares during the period. American Century Companies Inc. raised its holdings in shares of Universal Insurance by 44.5% during the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after purchasing an additional 144,647 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Universal Insurance by 11,666.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock valued at $1,193,000 after purchasing an additional 58,214 shares during the period. Highland Capital Management LLC raised its holdings in shares of Universal Insurance by 135.1% during the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after purchasing an additional 43,718 shares during the period. Finally, Legato Capital Management LLC acquired a new position in shares of Universal Insurance during the second quarter valued at about $789,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

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.