StockNews.com downgraded shares of Universal Insurance (NYSE:UVE - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.
Universal Insurance Stock Performance
UVE stock traded up $0.56 during trading on Wednesday, hitting $23.41. The company had a trading volume of 250,464 shares, compared to its average volume of 175,340. The firm has a 50-day moving average price of $20.77 and a 200-day moving average price of $20.86. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $657.59 million, a PE ratio of 9.51 and a beta of 0.84. Universal Insurance has a 1-year low of $16.50 and a 1-year high of $23.55.
Universal Insurance (NYSE:UVE - Get Free Report) last released 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 return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. On average, analysts expect that Universal Insurance will post 1.66 earnings per share for the current year.
Universal Insurance Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. Universal Insurance's dividend payout ratio (DPR) is 32.16%.
Insider Transactions at Universal Insurance
In related news, Chairman Sean P. Downes sold 50,000 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the sale, the chairman now owns 985,320 shares in the company, valued at $20,208,913.20. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 90,000 shares of company stock worth $1,908,700 over the last ninety days. 17.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Universal Insurance
Large investors have recently modified their holdings of the business. Quarry LP raised its position in Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after acquiring an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Universal Insurance during the 4th quarter worth $103,000. Quantbot Technologies LP increased its holdings in shares of Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 5,058 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of Universal Insurance in the fourth quarter valued at about $121,000. Finally, Sunbelt Securities Inc. purchased a new stake in Universal Insurance during the fourth quarter worth about $118,000. 66.61% of the stock is owned by hedge funds and other institutional investors.
About Universal Insurance
(
Get Free Report)
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.
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