Key Points
- CAO Kimberly Campos sold 879 shares on March 26 for a total of $29,745.36, cutting her stake by 10.59% to 7,422 shares (about $251,160.48), per an SEC filing.
- Universal Insurance beat expectations with $2.17 EPS for the quarter (consensus $1.30) and revenue of $403.57 million, alongside a return on equity of 37.28%.
- The company pays a quarterly dividend of $0.16 (annualized $0.64, ~1.9% yield) and has drawn bullish analyst attention, with an average target of $40 and recent upgrades to "strong-buy"/"overweight."
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) CAO Kimberly Campos sold 879 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the completion of the transaction, the chief accounting officer directly owned 7,422 shares of the company's stock, valued at $251,160.48. This represents a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Universal Insurance Price Performance
Shares of NYSE UVE opened at $33.71 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.18. Universal Insurance Holdings Inc has a fifty-two week low of $20.83 and a fifty-two week high of $36.68. The business has a 50 day moving average price of $32.42 and a two-hundred day moving average price of $31.35. The firm has a market cap of $944.04 million, a PE ratio of 5.34 and a beta of 0.67.
Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.87. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%.The company had revenue of $403.57 million for the quarter, compared to analyst estimates of $372.99 million. Sell-side analysts expect that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.64 annualized dividend and a yield of 1.9%. Universal Insurance's dividend payout ratio is currently 10.14%.
Wall Street Analyst Weigh In
UVE has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of Universal Insurance from $35.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, December 22nd. Wall Street Zen raised shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Saturday, December 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a research note on Wednesday, January 21st. Finally, Zacks Research raised Universal Insurance from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat.com, Universal Insurance has an average rating of "Buy" and an average target price of $40.00.
Get Our Latest Research Report on UVE
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of UVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Universal Insurance by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider's stock valued at $331,000 after buying an additional 630 shares during the last quarter. Millennium Management LLC lifted its holdings in Universal Insurance by 171.5% in the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock worth $8,148,000 after acquiring an additional 217,184 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Universal Insurance by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock worth $19,083,000 after acquiring an additional 69,289 shares during the last quarter. Jane Street Group LLC boosted its stake in Universal Insurance by 73.1% in the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider's stock valued at $1,939,000 after acquiring an additional 34,556 shares during the period. Finally, Strs Ohio bought a new position in shares of Universal Insurance during the first quarter valued at approximately $180,000. 66.61% of the stock is owned by institutional investors and hedge funds.
About Universal Insurance
(
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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