Universal Insurance (NYSE:UVE) Shares Gap Down – Time to Sell?

Universal Insurance Holdings Inc (NYSE:UVE)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $41.45, but opened at $39.84. Universal Insurance shares last traded at $37.3060, with a volume of 61,596 shares traded.

Wall Street Analyst Weigh In

UVE has been the topic of several research analyst reports. Zacks Research cut shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Piper Sandler downgraded Universal Insurance from an “overweight” rating to a “neutral” rating and set a $44.00 target price on the stock. in a report on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research note on Monday, April 20th. Finally, Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $44.00.

Universal Insurance Trading Down 9.3%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $1.05 billion, a PE ratio of 5.57 and a beta of 0.72. The firm has a 50-day moving average price of $39.34 and a 200-day moving average price of $35.35.

Universal Insurance (NYSE:UVE) last posted its quarterly 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 analysts’ expectations of $481.09 million. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. As a group, equities analysts anticipate that Universal Insurance Holdings Inc will post 4.63 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 31st will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 1.7%. Universal Insurance’s dividend payout ratio is 9.48%.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total value of $764,400.00. Following the completion of the sale, the chairman owned 1,148,255 shares of the company’s stock, valued at approximately $43,886,306.10. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 60,000 shares of company stock worth $2,332,800. Company insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Several large investors have recently bought and sold shares of the business. Torren Management LLC bought a new position in Universal Insurance during the 4th quarter valued at about $54,000. Tower Research Capital LLC TRC raised its holdings in shares of Universal Insurance by 390.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after purchasing an additional 2,114 shares during the last quarter. Parallel Advisors LLC lifted its position in Universal Insurance by 4,847.3% during the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock valued at $93,000 after purchasing an additional 2,666 shares during the period. Archer Investment Corp bought a new position in Universal Insurance during the first quarter valued at approximately $95,000. Finally, IFP Advisors Inc boosted its holdings in Universal Insurance by 492.4% in the fourth quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after purchasing an additional 2,324 shares during the last quarter. 66.61% of the stock is currently owned by 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.