StockNews.com upgraded shares of Universal Insurance (NYSE:UVE – Free Report) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.
Separately, Piper Sandler increased their price target on Universal Insurance from $20.00 to $21.00 and gave the stock an overweight rating in a report on Monday, October 30th.
Check Out Our Latest Stock Analysis on Universal Insurance
Universal Insurance Stock Performance
NYSE UVE opened at $16.49 on Wednesday. The stock has a market cap of $481.34 million, a PE ratio of 7.05 and a beta of 0.76. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.34. Universal Insurance has a twelve month low of $11.15 and a twelve month high of $20.15. The stock has a fifty day simple moving average of $16.43 and a 200-day simple moving average of $14.95.
Universal Insurance (NYSE:UVE – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.12. The business had revenue of $360.05 million during the quarter, compared to analysts’ expectations of $322.48 million. Universal Insurance had a return on equity of 21.95% and a net margin of 5.34%. Equities analysts anticipate that Universal Insurance will post 1.76 earnings per share for the current year.
Universal Insurance Dividend Announcement
The company also recently announced a None dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 8th were paid a dividend of $0.29 per share. This represents a yield of 3.9%. The ex-dividend date was Thursday, December 7th. Universal Insurance’s payout ratio is 27.35%.
Insider Buying and Selling
In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $16.60, for a total value of $332,000.00. Following the sale, the chairman now owns 1,251,919 shares of the company’s stock, valued at approximately $20,781,855.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Universal Insurance
Hedge funds have recently bought and sold shares of the stock. Bartlett & Co. LLC acquired a new stake in Universal Insurance in the 2nd quarter valued at about $34,000. Quantbot Technologies LP acquired a new stake in Universal Insurance in the 1st quarter valued at about $58,000. Belpointe Asset Management LLC acquired a new stake in shares of Universal Insurance during the 1st quarter worth about $102,000. Fortis Capital Advisors LLC acquired a new stake in shares of Universal Insurance during the 1st quarter worth about $102,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Universal Insurance by 208.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,929 shares of the insurance provider’s stock worth $78,000 after acquiring an additional 5,360 shares in the last quarter. Institutional investors and hedge funds own 66.43% of the company’s stock.
Universal Insurance Company Profile
(Get Free Report)
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.
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