Insider Selling: Universal Insurance (NYSE:UVE) CAO Sells $29,745.36 in Stock

Universal Insurance Holdings Inc (NYSE:UVE) CAO Kimberly Campos sold 879 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total transaction of $29,745.36. Following the completion of the transaction, the chief accounting officer directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Universal Insurance Trading Up 1.5%

UVE opened at $34.18 on Tuesday. The stock has a 50-day moving average of $32.50 and a 200 day moving average of $31.46. 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 has a market cap of $957.27 million, a P/E ratio of 5.42 and a beta of 0.67.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.87. The business had revenue of $403.57 million for the quarter, compared to the consensus estimate of $372.99 million. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%. As a group, research analysts forecast that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Universal Insurance

A number of large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in Universal Insurance in the 3rd quarter valued at $32,000. Torren Management LLC bought a new stake in shares of Universal Insurance during the fourth quarter worth $54,000. Ameritas Investment Partners Inc. boosted 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 purchasing an additional 577 shares during the period. Tower Research Capital LLC TRC grew 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 worth $74,000 after purchasing an additional 2,114 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of 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 during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

About Universal Insurance

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.