Universal Insurance (NYSE:UVE) Hits New 12-Month High – Still a Buy?

Universal Insurance Holdings Inc (NYSE:UVE) hit a new 52-week high on Thursday . The stock traded as high as $42.64 and last traded at $42.2520, with a volume of 256408 shares. The stock had previously closed at $41.36.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Wall Street Zen cut shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Universal Insurance currently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Universal Insurance Stock Performance

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.18 billion, a PE ratio of 6.26 and a beta of 0.72. The firm has a 50 day moving average price of $38.59 and a 200-day moving average price of $34.81.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.61. The firm had revenue of $398.16 million for the quarter, compared to analyst estimates of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. Research analysts expect that Universal Insurance Holdings Inc will post 4.63 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a dividend of $0.16 per share. The ex-dividend date was Friday, May 8th. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. Universal Insurance’s payout ratio is currently 9.48%.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $38.22, for a total value of $764,400.00. Following the sale, the chairman directly owned 1,148,255 shares of the company’s stock, valued at approximately $43,886,306.10. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 60,000 shares of company stock valued at $2,332,800 over the last 90 days. 15.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Universal Insurance by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock worth $331,000 after purchasing an additional 630 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Universal Insurance by 171.5% in the 1st quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock valued at $8,148,000 after purchasing an additional 217,184 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after purchasing an additional 69,289 shares during the period. Jane Street Group LLC boosted its holdings in Universal Insurance by 73.1% during the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider’s stock worth $1,939,000 after buying an additional 34,556 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Universal Insurance during the first quarter worth $180,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.