Universal Insurance (NYSE:UVE) Hits New 52-Week High – Still a Buy?

Universal Insurance Holdings Inc (NYSE:UVE) reached a new 52-week high on Monday . The company traded as high as $44.36 and last traded at $43.72, with a volume of 69194 shares. The stock had previously closed at $41.61.

Analysts Set New Price Targets

UVE has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a report on Friday, July 17th. Finally, Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.00.

Universal Insurance Trading Up 1.8%

The business has a 50 day simple moving average of $39.38 and a two-hundred day simple moving average of $35.83. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.23 billion, a PE ratio of 5.82 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.27. The business had revenue of $419.38 million during the quarter, compared to the consensus estimate of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. On average, analysts forecast that Universal Insurance Holdings Inc will post 4.85 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 31st will be issued a $0.16 dividend. The ex-dividend date is Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 1.5%. Universal Insurance’s payout ratio is 8.44%.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’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 completion of the sale, the chairman directly owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. The trade was a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in UVE. Torren Management LLC purchased a new stake in Universal Insurance during the fourth quarter valued at about $54,000. Tower Research Capital LLC TRC raised its holdings in shares of Universal Insurance by 390.0% in the 2nd 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 period. Parallel Advisors LLC lifted its stake in shares of Universal Insurance by 4,847.3% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 2,666 shares in the last quarter. Archer Investment Corp purchased a new stake in shares of Universal Insurance during the 1st quarter worth about $95,000. Finally, IFP Advisors Inc increased its position in Universal Insurance by 492.4% during the 4th 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. 66.61% of the stock is owned by hedge funds and other institutional investors.

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.