Universal Insurance (NYSE:UVE) Announces Quarterly Earnings Results

Universal Insurance (NYSE:UVE) posted its quarterly earnings data on Thursday. The insurance provider reported $1.93 EPS for the quarter, topping the consensus estimate of $1.57 by $0.36, FiscalAI reports. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. The company had revenue of $444.31 million during the quarter, compared to analyst estimates of $601.67 million.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $48.38 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.15. The stock’s fifty day moving average is $44.23 and its two-hundred day moving average is $41.02. Universal Insurance has a 52 week low of $28.00 and a 52 week high of $48.74. The company has a market capitalization of $1.35 billion, a PE ratio of 6.38 and a beta of 0.69.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean Downes sold 20,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $43.98, for a total transaction of $879,600.00. Following the completion of the sale, the chairman directly owned 1,084,645 shares of the company’s stock, valued at approximately $47,702,687.10. The trade was a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.00% of the company’s stock.

Wall Street Analysts Forecast Growth

UVE has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Universal Insurance from a “buy (a-)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 3rd. Finally, Piper Sandler increased their price objective on shares of Universal Insurance from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Universal Insurance currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

The company’s offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.