Universal Insurance (NYSE:UVE) Shares Up 3.1% - Time to Buy?

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report)'s stock price was up 3.1% during mid-day trading on Wednesday . The company traded as high as $22.61 and last traded at $22.63. Approximately 43,084 shares were traded during trading, a decline of 74% from the average daily volume of 168,853 shares. The stock had previously closed at $21.94.

Analysts Set New Price Targets

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

Universal Insurance Stock Up 2.4 %

The firm has a market cap of $657.59 million, a PE ratio of 9.51 and a beta of 0.84. 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 business has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $20.86.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, beating 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 firm had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. On average, equities research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Remove Ads

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 7th were issued a $0.16 dividend. This is an increase from Universal Insurance's previous quarterly dividend of $0.13. 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. Universal Insurance's dividend payout ratio is presently 32.16%.

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 50,000 shares of the firm's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the transaction, the chairman now directly owns 985,320 shares of the company's stock, valued at approximately $20,208,913.20. This trade represents a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold 90,000 shares of company stock valued at $1,908,700 in the last ninety days. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in 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 acquiring an additional 49,123 shares during the period. CWA Asset Management Group LLC grew its stake in shares of Universal Insurance by 100.0% in the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock valued at $12,017,000 after purchasing an additional 285,338 shares during the last quarter. Barclays PLC increased its holdings in shares of Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider's stock valued at $1,528,000 after purchasing an additional 28,278 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Universal Insurance during the third quarter worth approximately $636,000. Finally, Jane Street Group LLC lifted its holdings in shares of 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 purchasing an additional 57,108 shares during the period. Institutional investors and hedge funds own 66.61% of the company's stock.

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.