Universal Insurance (NYSE:UVE) Hits New 1-Year High at $22.38

Shares of Universal Insurance Holdings, Inc. (NYSE:UVE) hit 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 trading hands. The stock had previously closed at $20.30.

Wall Street Analyst Weigh In

Several brokerages recently commented on UVE. Piper Sandler restated an “overweight” rating and set a $25.00 target price on shares of Universal Insurance in a research report on Monday, April 1st. TheStreet raised Universal Insurance from a “c+” rating to a “b” rating in a research note on Monday, February 26th. Finally, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Universal Insurance Stock Down 3.7 %

The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $19.55 and a 200 day moving average of $17.29. The company has a market capitalization of $566.07 million, a PE ratio of 7.66 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 20.25% and a net margin of 5.29%. The business had revenue of $375.46 million during the quarter, compared to the consensus estimate of $328.12 million. Sell-side analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s payout ratio is currently 25.10%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance 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 completion of the sale, the chairman now owns 1,191,390 shares of the company’s stock, valued at $23,267,846.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds have recently added to or reduced their stakes in UVE. CWA Asset Management Group LLC purchased a new position in shares of Universal Insurance in the third quarter worth about $7,935,000. Donald Smith & CO. Inc. boosted its position in shares of Universal Insurance by 31.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider’s stock worth $27,201,000 after purchasing an additional 404,446 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Universal Insurance in the 4th quarter worth approximately $6,387,000. Acadian Asset Management LLC lifted its position in Universal Insurance by 250.2% in the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock valued at $4,765,000 after acquiring an additional 242,895 shares in the last quarter. Finally, Beacon Pointe Advisors LLC bought a new position in Universal Insurance in the 4th quarter valued at approximately $1,901,000. Institutional investors own 66.61% of the company’s stock.

Universal Insurance Company Profile

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.