Key Points
- Chairman Sean Downes sold 20,000 shares on Dec. 19 at an average price of $33.82 for proceeds of $676,400, leaving him with 1,243,512 shares (a 1.58% ownership decrease) per an SEC filing.
- Universal Insurance beat quarterly estimates (EPS $1.36 vs. $1.10 and $400.03M revenue), trades at a P/E of about 7.98 with a market cap near $950M, and recently paid a $0.13 special dividend.
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Chairman Sean Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $33.82, for a total transaction of $676,400.00. Following the sale, the chairman owned 1,243,512 shares of the company's stock, valued at approximately $42,055,575.84. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Universal Insurance Stock Performance
Shares of UVE stock opened at $33.86 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $949.63 million, a P/E ratio of 7.98 and a beta of 0.74. The firm's 50 day moving average price is $32.12 and its 200-day moving average price is $27.81. Universal Insurance Holdings Inc has a one year low of $18.72 and a one year high of $35.84.
Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.26. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%.The company had revenue of $400.03 million for the quarter, compared to analyst estimates of $366.36 million. As a group, equities research analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.
Universal Insurance Dividend Announcement
The company also recently announced a special dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, December 5th were given a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 5th. Universal Insurance's payout ratio is currently 15.09%.
Analysts Set New Price Targets
Several research analysts have recently commented on the stock. Zacks Research raised shares of Universal Insurance from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 21st. Wall Street Zen cut shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Sunday, December 14th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Universal Insurance in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Strong Buy".
Get Our Latest Stock Report on Universal Insurance
Institutional Investors Weigh In On Universal Insurance
Large investors have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new stake in shares of Universal Insurance in the 3rd quarter valued at $32,000. Quarry LP acquired a new position in shares of Universal Insurance during the first quarter worth $59,000. Ameritas Investment Partners Inc. increased its holdings 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 valued at $72,000 after buying an additional 577 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock valued at $74,000 after buying an additional 2,114 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Universal Insurance in the first quarter valued at $64,000. 66.61% of the stock is owned by hedge funds and other institutional investors.
Universal Insurance Company Profile
(
Get Free Report)
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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