Universal Insurance (NYSE:UVE) CAO Sells 879 Shares

Universal Insurance Holdings Inc (NYSE:UVE) CAO Kimberly Campos sold 879 shares of Universal Insurance stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of $33.84, for a total transaction of $29,745.36. Following the sale, the chief accounting officer owned 7,422 shares of the company’s stock, valued at approximately $251,160.48. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Universal Insurance Stock Performance

NYSE UVE opened at $33.71 on Friday. The firm has a market capitalization of $944.11 million, a P/E ratio of 5.34 and a beta of 0.67. Universal Insurance Holdings Inc has a fifty-two week low of $20.83 and a fifty-two week high of $36.68. The stock has a 50-day simple moving average of $32.42 and a two-hundred day simple moving average of $31.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.87. The firm had revenue of $403.57 million for the quarter, compared to the consensus estimate of $372.99 million. Universal Insurance had a net margin of 11.41% and a return on equity of 37.28%. On average, equities analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, March 6th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. Universal Insurance’s dividend payout ratio (DPR) is currently 10.14%.

Analyst Ratings Changes

UVE has been the topic of a number of research reports. Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Piper Sandler increased their target price on Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 27th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors have recently added to or reduced their stakes in UVE. EP Wealth Advisors LLC acquired a new position in Universal Insurance during the fourth quarter worth $495,000. Empowered Funds LLC grew its holdings in Universal Insurance by 6.5% in the 4th quarter. Empowered Funds LLC now owns 133,255 shares of the insurance provider’s stock valued at $4,504,000 after buying an additional 8,176 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Universal Insurance in the 4th quarter worth $665,000. VARCOV Co. purchased a new position in shares of Universal Insurance during the 4th quarter worth $421,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Universal Insurance during the 4th quarter worth $888,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.