Universal Insurance (NYSE:UVE) Issues FY 2022 Earnings Guidance

Universal Insurance (NYSE:UVEGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $1.80-$2.20 for the period, compared to the consensus EPS estimate of $1.57. The company issued revenue guidance of -.

Shares of NYSE:UVE opened at $12.54 on Tuesday. Universal Insurance has a 52-week low of $11.55 and a 52-week high of $19.64. The firm has a market cap of $388.06 million, a P/E ratio of 34.83 and a beta of 1.11. The firm has a 50-day moving average price of $12.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.38 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVEGet Rating) last issued its earnings results on Thursday, April 28th. The insurance provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Universal Insurance had a net margin of 1.01% and a return on equity of 2.77%. During the same period in the prior year, the company posted $0.84 earnings per share. Equities research analysts anticipate that Universal Insurance will post 1.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Shareholders of record on Friday, May 13th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $0.64 annualized dividend and a yield of 5.10%. Universal Insurance’s dividend payout ratio is currently 177.78%.

Several research analysts have weighed in on the stock. Zacks Investment Research raised shares of Universal Insurance from a strong sell rating to a hold rating and set a $14.00 price target on the stock in a report on Saturday, April 30th. StockNews.com raised shares of Universal Insurance from a hold rating to a buy rating in a report on Wednesday, May 4th. Finally, TheStreet cut shares of Universal Insurance from a b rating to a c+ rating in a report on Friday, February 11th.

In other Universal Insurance news, CEO Stephen Donaghy bought 10,000 shares of the stock in a transaction dated Monday, February 28th. The shares were bought at an average cost of $11.90 per share, with a total value of $119,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Frank Wilcox bought 2,750 shares of the stock in a transaction dated Tuesday, March 1st. The shares were acquired at an average cost of $11.94 per share, for a total transaction of $32,835.00. The disclosure for this purchase can be found here. Insiders have bought 14,750 shares of company stock worth $176,355 over the last ninety days. Insiders own 17.00% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC increased its stake in Universal Insurance by 125.7% in the fourth quarter. MetLife Investment Management LLC now owns 9,488 shares of the insurance provider’s stock valued at $161,000 after acquiring an additional 5,284 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Universal Insurance in the fourth quarter valued at approximately $283,000. Guggenheim Capital LLC increased its stake in Universal Insurance by 15.1% in the fourth quarter. Guggenheim Capital LLC now owns 19,659 shares of the insurance provider’s stock valued at $334,000 after acquiring an additional 2,576 shares during the last quarter. Credit Suisse AG increased its stake in Universal Insurance by 5.2% in the fourth quarter. Credit Suisse AG now owns 21,943 shares of the insurance provider’s stock valued at $373,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Citigroup Inc. increased its stake in Universal Insurance by 52.7% in the fourth quarter. Citigroup Inc. now owns 22,534 shares of the insurance provider’s stock valued at $383,000 after acquiring an additional 7,778 shares during the last quarter. 65.84% of the stock is currently owned by institutional investors.

About Universal Insurance (Get Rating)

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 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.

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Earnings History and Estimates for Universal Insurance (NYSE:UVE)

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