Universal Insurance (NYSE:UVE) Trading Up 3.1% – Here’s Why

Shares of Universal Insurance Holdings, Inc. (NYSE:UVE) traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $22.61 and last traded at $22.63. 43,084 shares changed hands during trading, a decline of 74% from the average session volume of 168,853 shares. The stock had previously closed at $21.94.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Universal Insurance Price Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $657.59 million, a price-to-earnings ratio of 9.51 and a beta of 0.84. The company’s 50 day moving average price is $20.77 and its 200-day moving average price is $20.86.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $384.81 million during the quarter, compared to analyst estimates of $349.91 million. On average, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 7th were issued a dividend of $0.16 per share. This is an increase from Universal Insurance’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.73%. Universal Insurance’s payout ratio is currently 32.16%.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the sale, the chairman now owns 990,200 shares of the company’s stock, valued at approximately $21,863,616. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 90,000 shares of company stock valued at $1,908,700. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after purchasing an additional 63,582 shares during the period. Algert Global LLC boosted its stake in Universal Insurance by 46.8% during the 3rd quarter. Algert Global LLC now owns 79,059 shares of the insurance provider’s stock valued at $1,752,000 after purchasing an additional 25,210 shares during the period. The Manufacturers Life Insurance Company bought a new position in Universal Insurance in the 3rd quarter worth approximately $206,000. FMR LLC lifted its holdings in shares of Universal Insurance by 135.9% during the third quarter. FMR LLC now owns 32,114 shares of the insurance provider’s stock worth $712,000 after buying an additional 18,501 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Universal Insurance by 80.5% during the third quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock worth $2,946,000 after buying an additional 59,290 shares during the last quarter. Institutional investors own 66.61% of the company’s stock.

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.