Universal Insurance Holdings Inc. (NYSE:UVE) has earned a consensus broker rating score of 2.00 (Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a buy recommendation.
Analysts have set a one year consensus price target of $28.00 for the company, according to Zacks. Zacks has also given Universal Insurance Holdings an industry rank of 208 out of 265 based on the ratings given to related companies.
Shares of Universal Insurance Holdings (NYSE:UVE) opened at 25.03 on Tuesday. The stock’s 50 day moving average price is $23.95 and its 200-day moving average price is $20.04. The firm has a market cap of $877.60 million, a P/E ratio of 7.56 and a beta of 1.55. Universal Insurance Holdings has a 12 month low of $15.86 and a 12 month high of $37.49.
Universal Insurance Holdings (NYSE:UVE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The firm earned $169.80 million during the quarter, compared to analysts’ expectations of $167.40 million. Universal Insurance Holdings had a net margin of 18.11% and a return on equity of 38.12%. Equities research analysts anticipate that Universal Insurance Holdings will post $3.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Monday, September 12th will be paid a dividend of $0.14 per share. This is a boost from Universal Insurance Holdings’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $0.56 dividend on an annualized basis and a yield of 2.24%. Universal Insurance Holdings’s dividend payout ratio (DPR) is currently 16.92%.
In other Universal Insurance Holdings news, Director Scott P. Callahan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $21.82, for a total transaction of $218,200.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $327,300. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Universal Insurance Holdings during the second quarter worth approximately $593,000. Mason Street Advisors LLC purchased a new stake in Universal Insurance Holdings during the second quarter valued at $117,000. Royal Bank of Canada raised its stake in Universal Insurance Holdings by 9.3% in the second quarter. Royal Bank of Canada now owns 120,125 shares of the company’s stock valued at $2,232,000 after buying an additional 10,173 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Universal Insurance Holdings by 4.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 153,505 shares of the company’s stock valued at $2,853,000 after buying an additional 6,784 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Universal Insurance Holdings by 2.4% in the second quarter. Arizona State Retirement System now owns 16,740 shares of the company’s stock valued at $311,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.
About Universal Insurance Holdings
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company writes personal residential homeowners insurance policies, predominantly in Florida.
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