Universal Insurance (NYSE:UVE) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Universal Insurance Holdings Inc (NYSE:UVE) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $34.32 and traded as high as $38.40. Universal Insurance shares last traded at $38.1210, with a volume of 195,771 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on UVE shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Wall Street Zen downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $40.00.

Universal Insurance Stock Up 0.1%

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 5.65 and a beta of 0.73. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $37.66 and a two-hundred day moving average of $34.32.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.61. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%.The firm had revenue of $398.16 million during the quarter, compared to the consensus estimate of $481.09 million. As a group, sell-side analysts anticipate that Universal Insurance Holdings Inc will post 4.63 earnings per share for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Universal Insurance’s dividend payout ratio is 9.48%.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $38.22, for a total value of $764,400.00. Following the transaction, the chairman owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Kimberly D. Campos sold 879 shares of the stock in a transaction that occurred on Thursday, March 26th. The stock was sold at an average price of $33.84, for a total transaction of $29,745.36. Following the completion of the sale, the chief accounting officer owned 7,422 shares of the company’s stock, valued at approximately $251,160.48. The trade was a 10.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 80,879 shares of company stock valued at $3,054,545 over the last three months. 15.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Insurance

Several institutional investors and hedge funds have recently modified their holdings of UVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Universal Insurance by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock worth $331,000 after acquiring an additional 630 shares during the last quarter. Millennium Management LLC boosted its position in Universal Insurance by 171.5% during the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock valued at $8,148,000 after purchasing an additional 217,184 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Universal Insurance by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after purchasing an additional 69,289 shares during the last quarter. Jane Street Group LLC grew its stake in Universal Insurance by 73.1% in the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider’s stock valued at $1,939,000 after purchasing an additional 34,556 shares in the last quarter. Finally, Strs Ohio purchased a new position in Universal Insurance in the first quarter valued at about $180,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.