Insider Selling: Universal Insurance (NYSE:UVE) Chairman Sells $764,400.00 in Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the sale, the chairman owned 1,148,255 shares of the company’s stock, valued at $43,886,306.10. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Universal Insurance Stock Performance

UVE traded down $0.11 on Friday, reaching $37.97. 95,639 shares of the stock were exchanged, compared to its average volume of 196,541. The company’s 50-day moving average price is $37.15 and its 200 day moving average price is $34.13. Universal Insurance Holdings Inc has a fifty-two week low of $21.96 and a fifty-two week high of $41.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market capitalization of $1.06 billion, a PE ratio of 5.63 and a beta of 0.73.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. The company had revenue of $398.16 million during the quarter, compared to analysts’ expectations of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. As a group, sell-side analysts forecast that Universal Insurance Holdings Inc will post 4.63 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Universal Insurance’s payout ratio is 9.48%.

Wall Street Analysts Forecast Growth

UVE has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, Wall Street Zen cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat, Universal Insurance currently has an average rating of “Buy” and an average price target of $40.00.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently bought and sold shares of the business. Torren Management LLC acquired a new position in Universal Insurance in the 4th quarter worth about $54,000. Tower Research Capital LLC TRC raised its holdings in Universal Insurance by 390.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,114 shares during the period. Parallel Advisors LLC raised its holdings in Universal Insurance by 4,847.3% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 2,666 shares during the period. Archer Investment Corp acquired a new position in Universal Insurance in the 1st quarter worth about $95,000. Finally, IFP Advisors Inc raised its holdings in Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 2,324 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

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.