Key Points
- Universal Insurance Chairman Sean Downes sold 20,000 shares at an average price of $44.27, generating $885,400. The sale reduced his ownership by 1.78%, leaving him with 1,104,645 shares.
- The insurer reported quarterly EPS of $1.84, beating estimates of $1.57, while revenue totaled $419.38 million versus expectations of $614.62 million. Analysts expect full-year EPS of $4.85.
- Universal Insurance pays a quarterly dividend of $0.16 per share, implying a 1.5% yield, while analysts maintain a consensus “Hold” rating and a $45 price target.
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Chairman Sean Downes sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total value of $885,400.00. Following the completion of the sale, the chairman owned 1,104,645 shares of the company's stock, valued at approximately $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Universal Insurance Price Performance
Universal Insurance stock opened at $44.06 on Friday. The stock's fifty day moving average price is $40.28 and its two-hundred day moving average price is $36.58. Universal Insurance Holdings Inc has a one year low of $23.25 and a one year high of $45.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.51. The firm has a market cap of $1.23 billion, a PE ratio of 5.81 and a beta of 0.72.
Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.27. The firm had revenue of $419.38 million during the quarter, compared to analysts' expectations of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. As a group, research analysts expect that Universal Insurance Holdings Inc will post 4.85 EPS for the current fiscal year.
Universal Insurance Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 1.5%. Universal Insurance's dividend payout ratio is currently 8.44%.
Wall Street Analysts Forecast Growth
Several research firms have commented on UVE. Weiss Ratings reissued a "buy (b)" rating on shares of Universal Insurance in a report on Friday, July 17th. Wall Street Zen raised shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. Zacks Research downgraded shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler upped their target price on Universal Insurance from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Universal Insurance presently has a consensus rating of "Hold" and a consensus price target of $45.00.
Get Our Latest Stock Report on Universal Insurance
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Pursuit Wealth Management LLC acquired a new position in shares of Universal Insurance during the fourth quarter worth $1,745,000. Vanguard Group Inc. grew its position in Universal Insurance by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 2,007,725 shares of the insurance provider's stock worth $67,861,000 after acquiring an additional 54,004 shares during the last quarter. Sierra Summit Advisors LLC bought a new stake in Universal Insurance during the 4th quarter worth $1,006,000. Legato Capital Management LLC increased its holdings in Universal Insurance by 37.6% in the 4th quarter. Legato Capital Management LLC now owns 72,031 shares of the insurance provider's stock worth $2,435,000 after purchasing an additional 19,673 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Universal Insurance by 24.4% in the fourth quarter. SG Americas Securities LLC now owns 11,046 shares of the insurance provider's stock valued at $373,000 after purchasing an additional 2,165 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.
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.
Further Reading
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