Universal Insurance (NYSE:UVE) Sets New 12-Month High Following Dividend Announcement

Universal Insurance Holdings Inc (NYSE:UVE) hit a new 52-week high during trading on Thursday after the company announced a dividend. The company traded as high as $33.21 and last traded at $32.8560, with a volume of 4885 shares changing hands. The stock had previously closed at $32.74.

The newly announced dividend which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.13 per share. This represents a yield of 195.0%. The ex-dividend date is Friday, December 5th. Universal Insurance’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Universal Insurance Price Performance

The company has a market capitalization of $941.69 million, a P/E ratio of 7.92 and a beta of 0.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.56 and a quick ratio of 0.58. The firm’s 50-day moving average is $27.89 and its 200-day moving average is $26.22.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.26. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. The business had revenue of $400.03 million for the quarter, compared to analysts’ expectations of $366.36 million. Analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $31.40, for a total transaction of $628,000.00. Following the transaction, the chairman directly owned 1,283,512 shares in the company, valued at approximately $40,302,276.80. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon Springer sold 35,435 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $31.41, for a total value of $1,113,013.35. Following the completion of the sale, the director owned 271,628 shares of the company’s stock, valued at approximately $8,531,835.48. The trade was a 11.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,435 shares of company stock worth $2,248,013 over the last quarter. 16.60% of the stock is owned by company insiders.

Institutional Trading of Universal Insurance

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in Universal Insurance during the 3rd quarter valued at approximately $32,000. Quarry LP bought a new stake in shares of Universal Insurance in the first quarter worth about $59,000. State of Wyoming bought a new stake in shares of Universal Insurance in the first quarter worth about $64,000. Ameritas Investment Partners Inc. lifted its position in shares of Universal Insurance by 28.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock worth $72,000 after buying an additional 577 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Universal Insurance by 390.0% during the second 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 last quarter. 66.61% of the stock is owned by hedge funds and other institutional investors.

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.