Universal Insurance (NYSE:UVE) Hits New 52-Week High - Here's Why

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

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 26th.

Universal Insurance Stock Up 1.6 %

The company's 50 day moving average is $20.94 and its 200 day moving average is $20.90. The company has a market cap of $676.83 million, a PE ratio of 9.79 and a beta of 0.84. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $384.81 million for the quarter, compared to the consensus estimate of $349.91 million. As a group, analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 7th were given a dividend of $0.16 per share. This is an increase from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.66%. Universal Insurance's dividend payout ratio (DPR) is 32.16%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $22.08, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 17.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its position in Universal Insurance by 55.6% during the third quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Universal Insurance during the 4th quarter worth approximately $103,000. Quantbot Technologies LP lifted its position in Universal Insurance by 45,981.8% during the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after acquiring an additional 5,058 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Universal Insurance in the fourth quarter worth $118,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Universal Insurance in the 4th quarter worth $121,000. 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.