Universal Insurance (NYSE:UVE) Reaches New 1-Year High – What’s Next?

Universal Insurance Holdings, Inc. (NYSE:UVE) shares reached a new 52-week high during trading on Friday . The stock traded as high as $23.55 and last traded at $23.41, with a volume of 245464 shares trading hands. The stock had previously closed at $22.85.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Universal Insurance Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s fifty day moving average price is $20.69 and its 200-day moving average price is $20.84. The firm has a market cap of $657.59 million, a PE ratio of 9.51 and a beta of 0.84.

Universal Insurance (NYSE:UVE) last issued its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $384.81 million during the quarter, compared to analysts’ expectations of $349.91 million. As a group, equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 7th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This is a boost from Universal Insurance’s previous quarterly dividend of $0.13. This represents a $0.64 annualized dividend and a yield of 2.73%. Universal Insurance’s payout ratio is currently 32.16%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now owns 990,200 shares of the company’s stock, valued at $21,863,616. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 90,000 shares of company stock valued at $1,908,700. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Several hedge funds have recently added to or reduced their stakes in UVE. Charles Schwab Investment Management Inc. grew its position in shares of Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after purchasing an additional 63,582 shares during the last quarter. Algert Global LLC lifted its stake in Universal Insurance by 46.8% in the 3rd quarter. Algert Global LLC now owns 79,059 shares of the insurance provider’s stock valued at $1,752,000 after buying an additional 25,210 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Universal Insurance during the 3rd quarter valued at $206,000. FMR LLC increased its position in Universal Insurance by 135.9% during the third quarter. FMR LLC now owns 32,114 shares of the insurance provider’s stock worth $712,000 after buying an additional 18,501 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Universal Insurance by 80.5% in the third quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock worth $2,946,000 after acquiring an additional 59,290 shares during the last quarter. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

About Universal Insurance

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.