Universal Insurance (NYSE:UVE) Shares Up 13.8%

Universal Insurance Holdings, Inc. (NYSE:UVE)’s share price shot up 13.8% during mid-day trading on Tuesday . The company traded as high as $18.31 and last traded at $18.15, 242,400 shares were traded during mid-day trading. A decline of 1% from the average session volume of 244,579 shares. The stock had previously closed at $15.95.

Separately, ValuEngine downgraded shares of Universal Insurance from a “buy” rating to a “hold” rating in a research report on Monday, December 16th.

The business’s 50-day moving average price is $21.87 and its 200-day moving average price is $26.60. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.02. The stock has a market cap of $509.56 million, a PE ratio of 14.40 and a beta of 1.03.

Universal Insurance (NYSE:UVE) last released its earnings results on Monday, March 2nd. The insurance provider reported ($1.57) earnings per share for the quarter, missing the consensus estimate of ($1.04) by ($0.53). The company had revenue of $239.40 million for the quarter. Universal Insurance had a return on equity of 12.21% and a net margin of 4.95%. As a group, analysts predict that Universal Insurance Holdings, Inc. will post 2.95 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, March 12th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.53%. The ex-dividend date was Wednesday, March 11th. Universal Insurance’s dividend payout ratio is presently 54.24%.

In related news, Director Sean P. Downes bought 3,000 shares of the company’s stock in a transaction on Monday, March 9th. The shares were bought at an average price of $21.39 per share, with a total value of $64,170.00. Following the transaction, the director now owns 1,488,682 shares in the company, valued at $31,842,907.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sean P. Downes bought 5,000 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were bought at an average cost of $21.53 per share, for a total transaction of $107,650.00. Following the transaction, the director now owns 1,485,682 shares in the company, valued at approximately $31,986,733.46. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,000 shares of company stock worth $191,900. 11.30% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. LSV Asset Management lifted its stake in Universal Insurance by 1.3% during the 4th quarter. LSV Asset Management now owns 1,331,445 shares of the insurance provider’s stock valued at $37,267,000 after acquiring an additional 17,640 shares during the period. State Street Corp lifted its stake in Universal Insurance by 5.8% during the 4th quarter. State Street Corp now owns 968,923 shares of the insurance provider’s stock valued at $27,120,000 after acquiring an additional 52,836 shares during the period. Stadium Capital Management LLC lifted its stake in Universal Insurance by 56.4% during the 4th quarter. Stadium Capital Management LLC now owns 484,189 shares of the insurance provider’s stock valued at $13,552,000 after acquiring an additional 174,520 shares during the period. Bank of New York Mellon Corp lifted its stake in Universal Insurance by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 471,038 shares of the insurance provider’s stock valued at $13,184,000 after acquiring an additional 30,026 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Universal Insurance by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 304,946 shares of the insurance provider’s stock valued at $8,536,000 after acquiring an additional 15,661 shares during the period. 73.60% of the stock is currently owned by institutional investors.

Universal Insurance Company Profile (NYSE:UVE)

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.

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