Universal Insurance (UVE) Set to Announce Earnings on Thursday

Universal Insurance (NYSE:UVE) is scheduled to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect Universal Insurance to post earnings of $1.04 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Universal Insurance had a net margin of 4.80% and a return on equity of 18.14%. The firm had revenue of $375.46 million during the quarter, compared to analyst estimates of $328.12 million. On average, analysts expect Universal Insurance to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Universal Insurance Stock Down 2.1 %

UVE stock opened at $18.78 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. The company has a 50-day moving average of $19.12 and a two-hundred day moving average of $17.01. The stock has a market capitalization of $544.06 million, a price-to-earnings ratio of 8.54 and a beta of 0.83. Universal Insurance has a 52-week low of $11.15 and a 52-week high of $21.75.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 10th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s dividend payout ratio is currently 29.09%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on UVE shares. Piper Sandler reiterated an “overweight” rating and set a $25.00 target price on shares of Universal Insurance in a research note on Monday, April 1st. StockNews.com raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 4th. Finally, TheStreet raised Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.53, for a total transaction of $390,600.00. Following the completion of the transaction, the chairman now directly owns 1,191,390 shares of the company’s stock, valued at approximately $23,267,846.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds have recently modified their holdings of the stock. Comerica Bank bought a new stake in Universal Insurance in the third quarter valued at $177,000. Principal Financial Group Inc. bought a new stake in shares of Universal Insurance in the 4th quarter worth about $171,000. Captrust Financial Advisors increased its position in shares of Universal Insurance by 39.1% during the 2nd quarter. Captrust Financial Advisors now owns 13,161 shares of the insurance provider’s stock worth $171,000 after purchasing an additional 3,697 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Universal Insurance by 1,492.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,921 shares of the insurance provider’s stock valued at $153,000 after purchasing an additional 10,235 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Universal Insurance in the second quarter valued at about $148,000. 66.61% of the stock is owned by institutional investors and hedge funds.

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.