Universal Insurance (NYSE:UVE) Chairman Sean Downes Sells 20,000 Shares of Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of the company’s stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $34.60, for a total transaction of $692,000.00. Following the transaction, the chairman owned 1,206,788 shares of the company’s stock, valued at approximately $41,754,864.80. The trade was a 1.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Universal Insurance Stock Down 1.2%

UVE stock opened at $33.71 on Friday. The stock has a market capitalization of $944.11 million, a PE ratio of 5.34 and a beta of 0.67. The company has a fifty day moving average of $32.42 and a 200-day 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 Holdings Inc has a one year low of $20.83 and a one year high of $36.68.

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

Universal Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 6th. This represents a $0.64 annualized dividend and a yield of 1.9%. Universal Insurance’s payout ratio is presently 10.14%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

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

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.