Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Chairman Sean Downes sold 20,000 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $39.69, for a total transaction of $793,800.00. Following the sale, the chairman directly owned 1,188,255 shares in the company, valued at $47,161,840.95. This trade represents a 1.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Universal Insurance Stock Performance
Shares of UVE stock opened at $39.62 on Friday. Universal Insurance Holdings Inc has a one year low of $21.96 and a one year high of $41.96. The company's 50-day moving average is $34.72 and its 200 day moving average is $32.80. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.51.
Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.39 by $0.61. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. The company had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. Sell-side analysts expect that Universal Insurance Holdings Inc will post 4.75 EPS for the current fiscal year.
Universal Insurance Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, May 8th. Universal Insurance's dividend payout ratio is 9.48%.
Hedge Funds Weigh In On Universal Insurance
Several hedge funds and other institutional investors have recently bought and sold shares of UVE. Millennium Management LLC lifted its stake in Universal Insurance by 212.3% during the 3rd quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider's stock valued at $15,685,000 after acquiring an additional 405,403 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of Universal Insurance by 106.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 280,957 shares of the insurance provider's stock worth $7,389,000 after purchasing an additional 144,553 shares during the period. Geode Capital Management LLC lifted its stake in shares of Universal Insurance by 19.8% in the 4th quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider's stock worth $27,566,000 after purchasing an additional 134,805 shares during the period. Informed Momentum Co LLC bought a new position in shares of Universal Insurance in the 4th quarter worth approximately $4,481,000. Finally, Vanguard Group Inc. lifted its stake in shares of Universal Insurance by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,953,721 shares of the insurance provider's stock worth $51,383,000 after purchasing an additional 108,660 shares during the period. Institutional investors own 66.61% of the company's stock.
Analysts Set New Price Targets
UVE has been the topic of several recent analyst reports. Zacks Research raised shares of Universal Insurance from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Universal Insurance in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $40.00.
Check Out Our Latest Research Report on Universal Insurance
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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