Universal Insurance (NYSE:UVE) Chairman Sean Downes Sells 20,000 Shares of Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $34.60, for a total transaction of $692,000.00. Following the completion of the sale, the chairman owned 1,206,788 shares in the company, valued at approximately $41,754,864.80. This trade represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Universal Insurance Stock Down 1.2%

Shares of NYSE UVE opened at $33.71 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.18. Universal Insurance Holdings Inc has a 12-month low of $20.83 and a 12-month high of $36.68. The firm’s 50-day moving average price is $32.42 and its 200-day moving average price is $31.35. The stock has a market capitalization of $944.04 million, a price-to-earnings ratio of 5.34 and a beta of 0.67.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Tuesday, February 24th. The insurance provider reported $2.17 EPS for the quarter, topping the consensus estimate of $1.30 by $0.87. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%.The company had revenue of $403.57 million during the quarter, compared to analyst estimates of $372.99 million. On average, equities research analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, March 6th. Universal Insurance’s dividend payout ratio is presently 10.14%.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UVE. State of Alaska Department of Revenue bought a new position in Universal Insurance in the 3rd quarter worth about $32,000. Torren Management LLC bought a new stake in shares of Universal Insurance during the fourth quarter valued at approximately $54,000. Ameritas Investment Partners Inc. raised its stake in shares of Universal Insurance by 28.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 577 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,114 shares during the period. Finally, IFP Advisors Inc grew its stake in Universal Insurance by 492.4% in the fourth quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 2,324 shares in the last quarter. Institutional investors own 66.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Wall Street Zen upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Piper Sandler increased their price target on Universal Insurance from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $40.00.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.