ValuEngine upgraded shares of Universal Insurance Holdings Inc (NYSE:UVE) from a buy rating to a strong-buy rating in a research report sent to investors on Friday, October 6th.
A number of other research firms have also recently commented on UVE. BidaskClub cut shares of Universal Insurance Holdings from a sell rating to a strong sell rating in a research note on Tuesday, August 1st. Keefe, Bruyette & Woods reissued a buy rating and issued a $29.00 price target on shares of Universal Insurance Holdings in a research note on Friday, August 18th.
Universal Insurance Holdings (UVE) opened at 24.40 on Friday. Universal Insurance Holdings has a 12-month low of $15.08 and a 12-month high of $29.20. The company has a market capitalization of $850.24 million, a price-to-earnings ratio of 8.64 and a beta of 1.83. The firm’s 50-day moving average price is $21.70 and its 200 day moving average price is $23.65.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Investors of record on Tuesday, September 12th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.30%. Universal Insurance Holdings’s dividend payout ratio is currently 19.93%.
In related news, CFO Frank Wilcox acquired 2,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was acquired at an average cost of $17.69 per share, for a total transaction of $35,380.00. Following the acquisition, the chief financial officer now owns 96,024 shares of the company’s stock, valued at $1,698,664.56. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of UVE. Pinebridge Investments L.P. grew its position in shares of Universal Insurance Holdings by 0.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock worth $108,000 after buying an additional 30 shares during the period. Victory Capital Management Inc. grew its position in Universal Insurance Holdings by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock valued at $118,000 after purchasing an additional 703 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Universal Insurance Holdings during the 2nd quarter valued at about $125,000. Envestnet Asset Management Inc. boosted its holdings in shares of Universal Insurance Holdings by 7.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,159 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 372 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Universal Insurance Holdings by 77.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,414 shares of the insurance provider’s stock valued at $161,000 after acquiring an additional 2,804 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.
Universal Insurance Holdings Company Profile
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).
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