Universal Insurance (NYSE:UVE) Hits New 52-Week High – What’s Next?

Universal Insurance Holdings, Inc. (NYSE:UVE)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $23.39 and last traded at $23.27, with a volume of 15201 shares trading hands. The stock had previously closed at $22.88.

Analysts Set New Price Targets

Separately, StockNews.com raised Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

Universal Insurance Trading Up 0.3 %

The company has a market capitalization of $644.73 million, a P/E ratio of 9.35 and a beta of 0.90. The stock’s 50 day moving average is $20.90 and its 200-day moving average is $20.07. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.30. The company had revenue of $387.55 million for the quarter, compared to analysts’ expectations of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, equities research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, December 6th. Universal Insurance’s dividend payout ratio (DPR) is presently 26.02%.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the completion of the transaction, the chairman now directly owns 1,062,262 shares in the company, valued at $21,468,315.02. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 55,064 shares of company stock valued at $1,191,937 in the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Insurance

Institutional investors have recently bought and sold shares of the company. Quarry LP lifted its stake in shares of Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,129 shares in the last quarter. Covestor Ltd raised its holdings in Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 1,328 shares during the last quarter. CWM LLC raised its holdings in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after acquiring an additional 723 shares during the last quarter. Aigen Investment Management LP bought a new position in Universal Insurance in the 3rd quarter valued at approximately $202,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Universal Insurance during the 3rd quarter valued at $206,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

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.