Universal Insurance (NYSE:UVE) Trading Down 5% - Time to Sell?

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report)'s stock price dropped 5% on Friday . The company traded as low as $19.09 and last traded at $19.09. Approximately 94,598 shares traded hands during trading, a decline of 50% from the average daily volume of 189,479 shares. The stock had previously closed at $20.10.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 5th.

Universal Insurance Trading Down 4.0 %

The company's 50 day moving average price is $20.67 and its 200 day moving average price is $19.77. The company has a market cap of $549.38 million, a price-to-earnings ratio of 6.77 and a beta of 0.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 0.54.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. The company had revenue of $380.21 million for the quarter, compared to analyst estimates of $340.09 million. During the same quarter in the prior year, the business posted $0.87 EPS. Research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.28 EPS for the current year.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Universal Insurance news, Director Jon Springer sold 35,173 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the sale, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares of the company's stock, valued at $24,318,427.14. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,173 shares of company stock worth $1,571,502. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Insurance

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Universal Insurance by 11,666.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider's stock worth $1,193,000 after acquiring an additional 58,214 shares during the last quarter. Boston Partners bought a new position in shares of Universal Insurance in the first quarter worth about $758,000. Vanguard Group Inc. raised its stake in shares of Universal Insurance by 2.8% in 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 last quarter. Cornercap Investment Counsel Inc. raised its stake in shares of Universal Insurance by 90.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 56,502 shares of the insurance provider's stock worth $1,060,000 after acquiring an additional 26,873 shares during the last quarter. Finally, Highland Capital Management LLC raised its stake in shares of Universal Insurance by 135.1% in the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider's stock worth $1,427,000 after acquiring an additional 43,718 shares during the last quarter. 66.61% of the stock is owned by 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.