Universal Insurance (NYSE:UVE) Sets New 52-Week High at $22.38

Universal Insurance Holdings, Inc. (NYSE:UVE)’s stock price reached a new 52-week high on Friday . The stock traded as high as $22.38 and last traded at $20.61, with a volume of 121316 shares changing hands. The stock had previously closed at $20.30.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on UVE. StockNews.com raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 4th. TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a report on Monday, April 1st.

Universal Insurance Stock Down 3.5 %

The firm has a 50-day moving average price of $19.45 and a two-hundred day moving average price of $17.23. The company has a market capitalization of $567.52 million, a P/E ratio of 9.11 and a beta of 0.83. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. Universal Insurance had a net margin of 4.80% and a return on equity of 18.14%. The company had revenue of $375.46 million for the quarter, compared to analyst estimates of $328.12 million. Equities research analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is currently 29.09%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total transaction of $390,600.00. Following the sale, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.70% of the company’s stock.

Institutional Trading of Universal Insurance

Several hedge funds have recently modified their holdings of UVE. AJOVista LLC bought a new stake in shares of Universal Insurance during the fourth quarter worth $25,000. Versor Investments LP bought a new position in Universal Insurance in the third quarter valued at approximately $140,000. Tompkins Financial Corp acquired a new stake in Universal Insurance during the 3rd quarter worth $153,000. Laurion Capital Management LP bought a new stake in shares of Universal Insurance during the 3rd quarter valued at $154,000. Finally, Olympiad Research LP acquired a new position in shares of Universal Insurance in the 3rd quarter valued at $174,000. 66.61% of the stock is 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. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.