Universal Insurance Holdings Inc (NYSE:UVE – Get Free Report) Chairman Sean Downes sold 20,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the transaction, the chairman owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Universal Insurance Trading Down 0.3%
Shares of UVE stock opened at $37.97 on Friday. The firm has a market cap of $1.06 billion, a P/E ratio of 5.63 and a beta of 0.73. Universal Insurance Holdings Inc has a 1-year low of $21.96 and a 1-year high of $41.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s 50-day simple moving average is $37.26 and its 200-day simple moving average is $34.16.
Universal Insurance (NYSE:UVE – Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.61. The business had revenue of $398.16 million for the quarter, compared to analyst estimates of $481.09 million. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. As a group, equities analysts forecast that Universal Insurance Holdings Inc will post 4.63 EPS for the current year.
Universal Insurance Announces Dividend
Institutional Trading of Universal Insurance
Several large investors have recently bought and sold shares of UVE. Millennium Management LLC grew its position in Universal Insurance by 212.3% in the third quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock valued at $15,685,000 after acquiring an additional 405,403 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Universal Insurance by 106.0% during the third quarter. BNP Paribas Financial Markets now owns 280,957 shares of the insurance provider’s stock worth $7,389,000 after buying an additional 144,553 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Universal Insurance by 19.8% during the fourth quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider’s stock worth $27,566,000 after buying an additional 134,805 shares in the last quarter. Informed Momentum Co LLC acquired a new stake in shares of Universal Insurance during the fourth quarter worth approximately $4,481,000. Finally, Vanguard Group Inc. grew its position in shares of Universal Insurance by 5.9% during the third quarter. Vanguard Group Inc. now owns 1,953,721 shares of the insurance provider’s stock worth $51,383,000 after buying an additional 108,660 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Zacks Research upgraded shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Insurance presently has an average rating of “Buy” and an average price target of $40.00.
Read Our Latest Analysis on Universal Insurance
Universal Insurance Company Profile
Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.
In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.
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