Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total value of $394,400.00. Following the completion of the sale, the chairman now owns 1,162,262 shares in the company, valued at $22,919,806.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Universal Insurance Stock Performance
Shares of UVE stock opened at $19.81 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.53. The company has a fifty day moving average price of $19.72 and a two-hundred day moving average price of $17.50. The stock has a market cap of $569.74 million, a P/E ratio of 7.77 and a beta of 0.84. Universal Insurance Holdings, Inc. has a one year low of $11.15 and a one year high of $22.38.
Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.20. The business had revenue of $375.46 million during the quarter, compared to analysts' expectations of $328.12 million. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. As a group, equities analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, May 9th. Universal Insurance's payout ratio is presently 25.10%.
Institutional Investors Weigh In On Universal Insurance
Several hedge funds have recently added to or reduced their stakes in the business. Donald Smith & CO. Inc. boosted its holdings in shares of Universal Insurance by 31.2% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider's stock worth $27,201,000 after acquiring an additional 404,446 shares during the period. CWA Asset Management Group LLC acquired a new position in Universal Insurance in the 3rd quarter valued at $7,935,000. Jacobs Levy Equity Management Inc. increased its position in Universal Insurance by 0.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider's stock worth $6,081,000 after buying an additional 2,175 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Universal Insurance during the fourth quarter worth $6,387,000. Finally, Acadian Asset Management LLC boosted its position in shares of Universal Insurance by 250.2% in the third quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider's stock valued at $4,765,000 after acquiring an additional 242,895 shares during the period. Institutional investors and hedge funds own 66.61% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on UVE shares. Piper Sandler restated an "overweight" rating and set a $25.00 target price on shares of Universal Insurance in a report on Monday, April 1st. StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, TheStreet upgraded Universal Insurance from a "c+" rating to a "b" rating in a report on Monday, February 26th.
Read Our Latest Analysis on Universal Insurance
About Universal Insurance
(
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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.
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