Universal Insurance (NYSE:UVE) Sees Strong Trading Volume

Universal Insurance Holdings, Inc. (NYSE:UVE) saw unusually-high trading volume on Friday . Approximately 89,875 shares changed hands during mid-day trading, a decline of 49% from the previous session’s volume of 177,413 shares.The stock last traded at $20.61 and had previously closed at $19.99.

Wall Street Analyst Weigh In

UVE has been the subject of several recent analyst reports. StockNews.com upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a report on Monday, April 1st.

Universal Insurance Trading Down 4.3 %

The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $550.94 million, a price-to-earnings ratio of 7.84 and a beta of 0.88. The company has a fifty day moving average of $19.02 and a 200-day moving average of $18.81.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, April 25th. The insurance provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.03. The business had revenue of $367.96 million for the quarter, compared to analysts’ expectations of $336.09 million. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. As a group, equities research analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, August 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, August 2nd. Universal Insurance’s dividend payout ratio is currently 25.10%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $18.31, for a total value of $366,200.00. Following the transaction, the chairman now directly owns 1,142,262 shares in the company, valued at $20,914,817.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael Pietrangelo sold 12,351 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.43, for a total value of $252,330.93. Following the transaction, the director now directly owns 80,074 shares in the company, valued at $1,635,911.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $18.31, for a total value of $366,200.00. Following the completion of the transaction, the chairman now owns 1,142,262 shares in the company, valued at $20,914,817.22. The disclosure for this sale can be found here. Insiders have sold a total of 52,351 shares of company stock worth $1,012,931 in the last ninety days. Insiders own 17.50% of the company’s stock.

Institutional Trading of Universal Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its position in Universal Insurance by 2.1% in the first quarter. Donald Smith & CO. Inc. now owns 1,737,233 shares of the insurance provider’s stock valued at $35,301,000 after purchasing an additional 35,045 shares during the period. Vanguard Group Inc. increased its position in shares of Universal Insurance by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after acquiring an additional 41,425 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Universal Insurance during the fourth quarter worth $6,387,000. LSV Asset Management increased its position in shares of Universal Insurance by 6.8% during the first quarter. LSV Asset Management now owns 313,902 shares of the insurance provider’s stock worth $6,378,000 after acquiring an additional 19,900 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Universal Insurance by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 300,379 shares of the insurance provider’s stock worth $5,635,000 after acquiring an additional 13,856 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.