Zacks Research downgraded shares of Universal Insurance (NYSE:UVE – Free Report) from a strong-buy rating to a hold rating in a report published on Tuesday,Zacks.com reports.
Other equities analysts have also recently issued reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research report on Monday, April 20th. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.
Universal Insurance Stock Performance
Universal Insurance (NYSE:UVE – Get Free Report) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.39 by $0.61. The firm had revenue of $398.16 million during the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. On average, analysts anticipate that Universal Insurance will post 4.63 EPS for the current fiscal year.
Universal Insurance Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a dividend of $0.16 per share. The ex-dividend date was Friday, May 8th. This represents a $0.64 annualized dividend and a yield of 1.6%. Universal Insurance’s dividend payout ratio (DPR) is currently 9.48%.
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 that occurred on Thursday, June 11th. The shares were sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the transaction, the chairman directly owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. This represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $2,332,800. Insiders own 15.00% of the company’s stock.
Institutional Trading of Universal Insurance
Several institutional investors have recently modified their holdings of the business. Sierra Summit Advisors LLC increased its holdings in Universal Insurance by 0.9% in the first quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock valued at $1,027,000 after purchasing an additional 282 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Universal Insurance by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider’s stock worth $803,000 after buying an additional 348 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Universal Insurance by 1.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock valued at $965,000 after buying an additional 405 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Universal Insurance by 5.2% in the fourth quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock valued at $327,000 after buying an additional 474 shares during the period. Finally, Osaic Holdings Inc. increased its stake in shares of Universal Insurance by 11.3% in the second quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock valued at $146,000 after buying an additional 534 shares during the period. Institutional investors own 66.61% of the company’s stock.
About Universal Insurance
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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