Key Points
- Director Jon Springer sold 24,308 shares on Nov. 14 at an average price of $34.51 for about $838,869, reducing his stake by 8.95% to 247,320 shares; he also sold 35,435 shares on Oct. 30 at $31.41 (~$1.11M).
- Earnings beat and special dividend: Universal reported quarterly EPS of $1.36 vs. $1.10 expected and revenue of $400.03M vs. $366.36M, and declared a special dividend of $0.13/share payable Dec. 12 (record date Dec. 5).
- Shares trade near their 12‑month high (opened $34.22; 12‑month range $18.72–$35.84), the company has a market cap of about $960M and a PE of 8.07, with roughly 66.6% institutional ownership.
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Director Jon Springer sold 24,308 shares of the firm's stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $34.51, for a total value of $838,869.08. Following the completion of the transaction, the director directly owned 247,320 shares in the company, valued at $8,535,013.20. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Jon Springer also recently made the following trade(s):
- On Thursday, October 30th, Jon Springer sold 35,435 shares of Universal Insurance stock. The stock was sold at an average price of $31.41, for a total value of $1,113,013.35.
Universal Insurance Trading Down 0.5%
Shares of UVE stock opened at $34.22 on Tuesday. Universal Insurance Holdings Inc has a 12 month low of $18.72 and a 12 month high of $35.84. The company has a market cap of $959.78 million, a PE ratio of 8.07 and a beta of 0.77. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 0.20. The business's 50 day moving average is $29.07 and its two-hundred day moving average is $26.71.
Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.26. The business had revenue of $400.03 million during the quarter, compared to analysts' expectations of $366.36 million. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. Equities analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.
Universal Insurance Dividend Announcement
The company also recently declared a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be issued 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 is 15.09%.
Wall Street Analysts Forecast Growth
UVE has been the topic of several research analyst reports. Zacks Research raised Universal Insurance from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 21st. Wall Street Zen lowered Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Strong Buy".
View Our Latest Stock Report on Universal Insurance
Hedge Funds Weigh In On Universal Insurance
Several institutional investors and hedge funds have recently added to or reduced their stakes in UVE. State of Alaska Department of Revenue acquired a new position in Universal Insurance in the 3rd quarter valued at approximately $32,000. Quarry LP acquired a new position in shares of Universal Insurance in the first quarter valued at $59,000. Ameritas Investment Partners Inc. lifted its position in 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 purchasing an additional 577 shares during the period. 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 worth $74,000 after buying an additional 2,114 shares in the last quarter. Finally, State of Wyoming bought a new stake in Universal Insurance in the 1st quarter valued at $64,000. 66.61% of the stock is currently owned by institutional investors.
About Universal Insurance
(
Get Free Report)
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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