Key Points
- Universal Insurance Chairman Sean Downes sold 20,000 shares at an average price of $43.98, generating $879,600. His remaining direct ownership fell 1.81% to 1,084,645 shares.
- The company reported quarterly EPS of $1.84, beating the $1.57 consensus estimate, though revenue of $419.38 million was below the $614.62 million estimate. Analysts expect full-year EPS of $4.85.
- Universal Insurance pays a quarterly dividend of $0.16, equal to a $0.64 annualized dividend and a 1.4% yield. Analysts maintain a consensus “Hold” rating with a $45 price target, close to the stock’s $44.21 opening price.
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 Friday, September 11th. The stock was sold at an average price of $43.98, for a total value of $879,600.00. Following the sale, the chairman directly owned 1,084,645 shares in the company, valued at $47,702,687.10. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Universal Insurance Price Performance
NYSE:UVE opened at $44.21 on Friday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 5.83 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.57. The business has a 50 day simple moving average of $42.59 and a 200-day simple moving average of $38.78. Universal Insurance Holdings Inc has a 1 year low of $24.50 and a 1 year high of $45.15.
Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results 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 company had revenue of $419.38 million for the quarter, compared to analyst estimates of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. Equities analysts forecast that Universal Insurance Holdings Inc will post 4.85 EPS for the current year.
Universal Insurance Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, July 31st. Universal Insurance's dividend payout ratio (DPR) is 8.44%.
Hedge Funds Weigh In On Universal Insurance
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissancere Holdings Ltd. bought a new stake in shares of Universal Insurance in the second quarter valued at about $24,144,769. NFJ Investment Group LLC bought a new position in Universal Insurance during the 2nd quarter worth about $3,270,000. Vanguard Group Inc. grew its holdings 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 in the last quarter. Bank of America Corp DE increased its position in Universal Insurance by 46.0% during the 1st quarter. Bank of America Corp DE now owns 143,557 shares of the insurance provider's stock valued at $4,904,000 after purchasing an additional 45,224 shares during the period. Finally, Donald Smith & CO. Inc. purchased a new position in Universal Insurance during the 2nd quarter valued at about $29,849,000. Institutional investors own 66.61% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Piper Sandler upped their price target on shares of Universal Insurance from $44.00 to $45.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Wall Street Zen lowered Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 9th. Weiss Ratings cut Universal Insurance from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Finally, Zacks Research cut Universal Insurance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $45.00.
View Our Latest Stock Analysis on UVE
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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