Sean Downes Sells 20,000 Shares of Universal Insurance (NYSE:UVE) Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $33.82, for a total value of $676,400.00. Following the sale, the chairman owned 1,243,512 shares in the company, valued at approximately $42,055,575.84. The trade was a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Universal Insurance Trading Down 1.2%

Shares of NYSE:UVE opened at $33.86 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20. Universal Insurance Holdings Inc has a 52-week low of $18.72 and a 52-week high of $35.84. The stock has a market cap of $949.60 million, a price-to-earnings ratio of 7.98 and a beta of 0.74. The business has a 50-day moving average price of $32.12 and a 200-day moving average price of $27.81.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.26. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%.The firm had revenue of $400.03 million for the quarter, compared to analyst estimates of $366.36 million. Equities analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, December 12th. Investors of record on Friday, December 5th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 5th. Universal Insurance’s dividend payout ratio (DPR) is 15.09%.

Analysts Set New Price Targets

A number of research firms have weighed in on UVE. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 14th. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, Universal Insurance presently has a consensus rating of “Strong Buy”.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its position in shares of Universal Insurance by 42.9% in the first quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider’s stock valued at $1,040,000 after buying an additional 13,177 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Universal Insurance by 3.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 255,200 shares of the insurance provider’s stock valued at $7,077,000 after acquiring an additional 9,046 shares during the period. Hsbc Holdings PLC purchased a new stake in Universal Insurance in the 1st quarter worth $487,000. Nuveen LLC acquired a new position in Universal Insurance during the first quarter worth $2,197,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Universal Insurance by 43.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 454,496 shares of the insurance provider’s stock valued at $12,603,000 after purchasing an additional 138,732 shares in the last quarter. 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.