StockNews.com cut shares of Universal Insurance (NYSE:UVE - Free Report) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.
Universal Insurance Stock Performance
UVE traded down $0.47 during trading on Tuesday, hitting $21.31. The stock had a trading volume of 169,249 shares, compared to its average volume of 168,660. Universal Insurance has a twelve month low of $16.50 and a twelve month high of $23.39. The firm has a market capitalization of $598.75 million, a P/E ratio of 8.65 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The company's 50-day moving average price is $20.40 and its 200 day moving average price is $20.81.
Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.16. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $384.81 million during the quarter, compared to analysts' expectations of $349.91 million. On average, equities research analysts forecast that Universal Insurance will post 1.66 EPS for the current fiscal year.
Universal Insurance Increases Dividend
The business 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 a positive change from Universal Insurance's previous quarterly dividend of $0.13. This represents a $0.64 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Friday, March 7th. Universal Insurance's payout ratio is presently 32.16%.
Insider Activity
In other Universal Insurance news, Chairman Sean P. Downes sold 50,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 90,000 shares of company stock worth $1,908,700 in the last 90 days. 17.50% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Universal Insurance
A number of institutional investors and hedge funds have recently modified their holdings of UVE. Wells Fargo & Company MN grew its holdings in Universal Insurance by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider's stock valued at $291,000 after purchasing an additional 732 shares during the last quarter. Quarry LP boosted its position in shares of Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after buying an additional 776 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in Universal Insurance by 12.0% during the 4th quarter. EP Wealth Advisors LLC now owns 12,189 shares of the insurance provider's stock valued at $257,000 after acquiring an additional 1,306 shares in the last quarter. Franklin Resources Inc. raised its position in Universal Insurance by 8.9% during the fourth quarter. Franklin Resources Inc. now owns 21,799 shares of the insurance provider's stock worth $459,000 after acquiring an additional 1,775 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Universal Insurance by 56.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after purchasing an additional 2,083 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.
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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