Universal Insurance (NYSE:UVE) Trading Up 6.1%

Universal Insurance Holdings, Inc. (NYSE:UVE)’s stock price shot up 6.1% during trading on Monday . The company traded as high as $18.90 and last traded at $18.84. 53,928 shares changed hands during trading, a decline of 69% from the average session volume of 176,800 shares. The stock had previously closed at $17.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on UVE shares. StockNews.com raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Piper Sandler reissued an “overweight” rating and issued a $25.00 target price on shares of Universal Insurance in a research note on Monday, April 1st.

Universal Insurance Price Performance

The company has a market cap of $522.14 million, a PE ratio of 7.09 and a beta of 0.88. The business has a 50 day moving average of $19.25 and a 200 day moving average of $18.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.44.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, April 25th. The insurance provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.04 by $0.03. The firm had revenue of $367.96 million during the quarter, compared to analysts’ expectations of $336.09 million. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. As a group, research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total value of $394,400.00. Following the completion of the transaction, the chairman now owns 1,162,262 shares of the company’s stock, valued at approximately $22,919,806.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Universal Insurance news, Director Michael Pietrangelo sold 12,351 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $20.43, for a total value of $252,330.93. Following the sale, the director now owns 80,074 shares in the company, valued at $1,635,911.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total transaction of $394,400.00. Following the transaction, the chairman now directly owns 1,162,262 shares of the company’s stock, valued at approximately $22,919,806.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,351 shares of company stock valued at $1,012,931. 17.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Universal Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Universal Insurance in the fourth quarter worth approximately $6,387,000. Beacon Pointe Advisors LLC purchased a new stake in shares of Universal Insurance during the 4th quarter valued at about $1,901,000. Allspring Global Investments Holdings LLC grew its position in Universal Insurance by 11,666.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock worth $1,193,000 after purchasing an additional 58,214 shares during the period. Federated Hermes Inc. bought a new stake in shares of Universal Insurance in the fourth quarter worth $593,000. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Universal Insurance during the 4th quarter valued at about $473,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

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.