Universal Insurance (NYSE:UVE) Reaches New 12-Month High Following Earnings Beat

Universal Insurance Holdings, Inc. (NYSE:UVE) reached a new 52-week high on Friday following a stronger than expected earnings report. The company traded as high as $25.64 and last traded at $24.23, with a volume of 85643 shares traded. The stock had previously closed at $23.39.

The insurance provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.32. The company had revenue of $394.87 million for the quarter, compared to analysts’ expectations of $354.97 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.71%. Universal Insurance’s dividend payout ratio (DPR) is presently 27.95%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 26th.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now owns 990,200 shares in the company, valued at $21,863,616. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.50% of the stock is currently owned by company insiders.

Institutional Trading of Universal Insurance

A number of institutional investors have recently modified their holdings of the business. CWA Asset Management Group LLC raised its holdings in Universal Insurance by 100.0% during the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after acquiring an additional 285,338 shares during the period. Donald Smith & CO. Inc. grew its position in shares of Universal Insurance by 11.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider’s stock valued at $36,234,000 after purchasing an additional 174,843 shares in the last quarter. Millennium Management LLC raised its stake in shares of Universal Insurance by 120.6% during the 4th quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider’s stock valued at $2,666,000 after purchasing an additional 69,205 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Universal Insurance by 128,888.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider’s stock worth $1,222,000 after purchasing an additional 58,000 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in Universal Insurance in the 4th quarter worth about $1,212,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Universal Insurance Stock Up 1.0 %

The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $22.09 and a two-hundred day simple moving average of $21.13. The firm has a market cap of $663.63 million, a PE ratio of 9.60 and a beta of 0.76.

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.