Universal Insurance (NYSE:UVE) Stock: Insider Jon Springer Sells 16,380 Shares

Universal Insurance Holdings Inc (NYSE:UVE) Director Jon Springer sold 16,380 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $48.96, for a total transaction of $801,964.80. Following the transaction, the director owned 209,354 shares in the company, valued at approximately $10,249,971.84. The trade was a 7.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jon Springer also recently made the following trade(s):

• On Tuesday, November 3rd, Jon Springer sold 25,000 shares of Universal Insurance stock. The shares were sold at an average price of $48.77, for a total transaction of $1,219,250.00.

Universal Insurance Stock Performance

Shares of NYSE UVE traded down $1.51 during mid-day trading on Thursday, hitting $47.27. The company had a trading volume of 317,951 shares, compared to its average volume of 202,769. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.56 and a quick ratio of 0.57. The business’s 50-day simple moving average is $45.14 and its 200-day simple moving average is $39.08. Universal Insurance Holdings Inc has a 12 month low of $28.32 and a 12 month high of $50.75. The firm has a market cap of $1.31 billion, a P/E ratio of 5.91 and a beta of 0.63.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, October 22nd. The insurance provider reported $1.93 EPS for the quarter, beating the consensus estimate of $1.57 by $0.36. The firm had revenue of $444.31 million during the quarter, compared to analysts’ expectations of $601.67 million. Universal Insurance had a return on equity of 38.15% and a net margin of 13.94%. As a group, analysts predict that Universal Insurance Holdings Inc will post 6.13 earnings per share for the current fiscal year.

Universal Insurance announced that its Board of Directors has authorized a stock buyback program on Thursday, October 29th that permits the company to buy back $20 million in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 1.6% of its stock through open market purchases. Share buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Universal Insurance

Large investors have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in shares of Universal Insurance by 83.7% in the 3rd quarter. Signaturefd LLC now owns 599 shares of the insurance provider’s stock valued at $25,000 after purchasing an additional 273 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Universal Insurance in the 3rd quarter worth about $44,000. Parallel Advisors LLC increased its position in shares of Universal Insurance by 4,847.3% during 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 in the last quarter. Archer Investment Corp acquired a new stake in shares of Universal Insurance during the 1st quarter worth about $95,000. Finally, Root Financial Partners LLC bought a new position in Universal Insurance during the 3rd quarter valued at about $145,000. 66.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 22nd. Piper Sandler upped their target price on shares of Universal Insurance from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Monday, October 26th. Weiss Ratings raised shares of Universal Insurance from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $51.00.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

The company’s offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.