Universal Insurance (NYSE:UVE) Hits New 1-Year High - Here's What Happened

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $24.00 and last traded at $24.00, with a volume of 203 shares traded. The stock had previously closed at $21.01.

Analyst Ratings Changes

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

Universal Insurance Price Performance

The stock's 50-day moving average is $21.35 and its 200 day moving average is $20.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $583.26 million, a PE ratio of 8.38 and a beta of 0.92.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($1.03) by $0.30. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The firm had revenue of $387.55 million during the quarter, compared to analysts' expectations of $341.98 million. During the same quarter last year, the firm earned ($0.16) EPS. On average, equities analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, December 6th. This represents a $0.52 annualized dividend and a dividend yield of 2.52%. Universal Insurance's dividend payout ratio (DPR) is currently 26.02%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 15,064 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $22.46, for a total value of $338,337.44. Following the transaction, the chairman now directly owns 1,047,198 shares of the company's stock, valued at $23,520,067.08. This represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the sale, the director now directly owns 383,228 shares of the company's stock, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,064 shares of company stock valued at $1,258,287 in the last three months. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Universal Insurance by 35.7% in the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock valued at $3,263,000 after purchasing an additional 38,767 shares during the last quarter. Barclays PLC raised its stake in shares of Universal Insurance by 69.5% during the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider's stock valued at $1,528,000 after buying an additional 28,278 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Universal Insurance by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock valued at $15,289,000 after buying an additional 49,123 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Universal Insurance in the third quarter worth about $241,000. Finally, Jane Street Group LLC grew its holdings in Universal Insurance by 2,142.1% during the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider's stock worth $1,325,000 after acquiring an additional 57,108 shares during the period. Hedge funds and other institutional investors own 66.61% of the company's stock.

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.