Universal Insurance Holdings, Inc. (NYSE:UVE) – Stock analysts at Piper Sandler cut their FY2020 earnings per share (EPS) estimates for shares of Universal Insurance in a research report issued to clients and investors on Monday, July 13th. Piper Sandler analyst T. Shimp now forecasts that the insurance provider will post earnings per share of $2.46 for the year, down from their prior estimate of $2.80. Piper Sandler has a “Neutral” rating and a $19.00 price objective on the stock.
Universal Insurance (NYSE:UVE) last posted its earnings results on Monday, April 27th. The insurance provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.04. Universal Insurance had a return on equity of 8.42% and a net margin of 2.82%. The firm had revenue of $235.28 million during the quarter.
UVE opened at $16.95 on Tuesday. The business has a 50 day moving average price of $17.84 and a 200 day moving average price of $20.49. Universal Insurance has a twelve month low of $14.20 and a twelve month high of $30.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.43 and a current ratio of 0.43. The firm has a market cap of $549.18 million, a P/E ratio of 23.22 and a beta of 0.88.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 31st will be issued a $0.16 dividend. The ex-dividend date is Thursday, July 30th. This represents a $0.64 annualized dividend and a yield of 3.78%. Universal Insurance’s dividend payout ratio (DPR) is currently 54.24%.
A number of hedge funds and other institutional investors have recently modified their holdings of UVE. Versant Capital Management Inc bought a new position in Universal Insurance in the 1st quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new position in Universal Insurance in the 4th quarter worth approximately $29,000. Aigen Investment Management LP bought a new position in Universal Insurance in the 1st quarter worth approximately $133,000. Bank of Montreal Can increased its position in Universal Insurance by 23.7% in the 4th quarter. Bank of Montreal Can now owns 5,365 shares of the insurance provider’s stock worth $150,000 after buying an additional 1,028 shares during the period. Finally, IndexIQ Advisors LLC bought a new position in Universal Insurance in the 1st quarter worth approximately $187,000. 72.96% of the stock is currently owned by institutional investors.
About Universal Insurance
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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