Shares of Universal Insurance Holdings Inc (NYSE:UVE – Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $42.64 and last traded at $42.2520, with a volume of 256408 shares traded. The stock had previously closed at $41.36.
Analysts Set New Price Targets
Several brokerages recently weighed in on UVE. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research lowered Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Universal Insurance has an average rating of “Moderate Buy” and an average price target of $40.00.
Read Our Latest Stock Analysis on Universal Insurance
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 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 analysts’ expectations of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. As a group, analysts anticipate that Universal Insurance Holdings Inc will post 4.63 earnings per share for the current year.
Universal Insurance Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. Universal Insurance’s payout ratio is 9.48%.
Insider Transactions at Universal Insurance
In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the sale, the chairman directly owned 1,148,255 shares of the company’s stock, valued at $43,886,306.10. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 60,000 shares of company stock valued at $2,332,800. 15.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Sierra Summit Advisors LLC increased its position in Universal Insurance by 0.9% during the first quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock worth $1,027,000 after purchasing an additional 282 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Universal Insurance by 1.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider’s stock valued at $803,000 after purchasing an additional 348 shares during the last quarter. Los Angeles Capital Management LLC grew its stake 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 period. Susquehanna Fundamental Investments LLC grew its stake in shares of Universal Insurance by 5.2% in the 4th 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 holdings in shares of Universal Insurance by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after buying an additional 534 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.
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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