Key Points
- Chairman Sean Downes sold 20,000 shares of Universal Insurance on June 11 at an average price of $38.22, totaling about $764,400. After the sale, he still held 1,148,255 shares valued at roughly $43.9 million.
- Universal Insurance beat quarterly earnings expectations, reporting $2.00 EPS versus the $1.39 consensus estimate, though revenue of $398.16 million came in below forecasts. Analysts expect the company to earn 4.63 per share for the full year.
- The stock has a modest dividend and favorable analyst outlook, with a quarterly payout of $0.16 per share, a 1.7% yield, and a consensus rating of “Buy” with an average target price of $40.00.
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Chairman Sean Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the transaction, the chairman directly owned 1,148,255 shares of the company's stock, valued at approximately $43,886,306.10. This represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Universal Insurance Stock Performance
Universal Insurance stock opened at $37.97 on Friday. The company has a market cap of $1.06 billion, a PE ratio of 5.63 and a beta of 0.73. The company has a fifty day moving average price of $37.26 and a two-hundred day moving average price of $34.16. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.51. Universal Insurance Holdings Inc has a 12 month low of $21.96 and a 12 month high of $41.96.
Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.61. The firm had revenue of $398.16 million during the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. Research analysts expect that Universal Insurance Holdings Inc will post 4.63 earnings per share for the current year.
Universal Insurance Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Universal Insurance's payout ratio is currently 9.48%.
Wall Street Analysts Forecast Growth
UVE has been the topic of a number of recent research reports. Zacks Research upgraded Universal Insurance from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a research note on Monday, April 20th. Finally, Wall Street Zen cut Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Universal Insurance currently has a consensus rating of "Buy" and an average target price of $40.00.
View Our Latest Stock Analysis on Universal Insurance
Institutional Investors Weigh In On Universal Insurance
Hedge funds have recently added to or reduced their stakes in the stock. Torren Management LLC acquired a new stake in Universal Insurance in the fourth quarter worth about $54,000. Tower Research Capital LLC TRC lifted 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 worth $74,000 after purchasing an additional 2,114 shares during the period. Parallel Advisors LLC lifted its holdings in Universal Insurance by 4,847.3% in the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider's stock worth $93,000 after purchasing an additional 2,666 shares during the period. Archer Investment Corp acquired a new stake in Universal Insurance in the first quarter worth about $95,000. Finally, IFP Advisors Inc lifted its holdings in Universal Insurance by 492.4% in the fourth quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider's stock worth $95,000 after purchasing an additional 2,324 shares during the period. 66.61% of the stock is currently owned by 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
