Key Points
- Director Jon Springer sold 16,380 shares for about $802,000 at an average price of $48.96, reducing his stake by 7.26% to 209,354 shares. He had also sold 25,000 shares the previous day.
- Universal Insurance reported quarterly EPS of $1.93, beating the $1.57 consensus estimate, while revenue of $444.31 million fell short of analysts’ $601.67 million expectation.
- The board authorized a $20 million share-repurchase plan, allowing buybacks of up to 1.6% of outstanding shares. Analysts’ average rating was “Buy,” with a consensus price target of $51.
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Director Jon Springer sold 16,380 shares of Universal Insurance stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $48.96, for a total value of $801,964.80. Following the sale, the director directly owned 209,354 shares in the company, valued at $10,249,971.84. The trade was a 7.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Jon Springer also recently made the following trade(s):
- On Tuesday, November 3rd, Jon Springer sold 25,000 shares of Universal Insurance stock. The shares were sold at an average price of $48.77, for a total value of $1,219,250.00.
Universal Insurance Stock Performance
Shares of NYSE UVE opened at $47.27 on Friday. The business has a fifty day simple moving average of $45.22 and a 200 day simple moving average of $39.17. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 5.91 and a beta of 0.63. Universal Insurance Holdings Inc has a one year low of $28.32 and a one year high of $50.75.
Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, October 22nd. The insurance provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.57 by $0.36. The firm had revenue of $444.31 million during the quarter, compared to analysts' expectations of $601.67 million. Universal Insurance had a return on equity of 38.15% and a net margin of 13.94%. Sell-side analysts expect that Universal Insurance Holdings Inc will post 6.13 EPS for the current year.
Universal Insurance declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 29th that allows the company to repurchase $20 million in outstanding shares. This repurchase authorization allows the insurance provider to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Universal Insurance from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 22nd. Weiss Ratings raised shares of Universal Insurance from a "buy (a-)" rating to a "buy (a+)" rating in a research note on Thursday, October 8th. Wall Street Zen lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, October 31st. Finally, Piper Sandler lifted their price objective on Universal Insurance from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $51.00.
View Our Latest Stock Analysis on UVE
Institutional Investors Weigh In On Universal Insurance
A number of hedge funds have recently made changes to their positions in UVE. Signaturefd LLC lifted its holdings in Universal Insurance by 83.7% during the 3rd quarter. Signaturefd LLC now owns 599 shares of the insurance provider's stock valued at $25,000 after purchasing an additional 273 shares during the last quarter. USA Financial Formulas bought a new stake in Universal Insurance during the third quarter worth about $44,000. Parallel Advisors LLC grew its stake in Universal Insurance by 4,847.3% during the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider's stock worth $93,000 after buying an additional 2,666 shares during the last quarter. Archer Investment Corp bought a new stake in Universal Insurance during the first quarter worth about $95,000. Finally, Root Financial Partners LLC acquired a new stake in shares of Universal Insurance during the third quarter worth approximately $145,000. Institutional investors and hedge funds own 66.61% of the company's stock.
Universal Insurance Company Profile
(
Get Free Report)
Universal Insurance Holdings, Inc (NYSE: UVE) is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.
The company's offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.
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