Universal Insurance (NYSE:UVE) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Universal Insurance Holdings Inc (NYSE:UVE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $34.32 and traded as high as $38.40. Universal Insurance shares last traded at $38.1210, with a volume of 195,771 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on UVE. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Monday, April 20th. Finally, Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $40.00.

Universal Insurance Price Performance

The company has a market capitalization of $1.06 billion, a P/E ratio of 5.65 and a beta of 0.73. 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 business has a 50 day simple moving average of $37.66 and a 200-day simple moving average of $34.32.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. The business had revenue of $398.16 million for the quarter, compared to analysts’ expectations of $481.09 million. Analysts predict 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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Universal Insurance’s dividend payout ratio (DPR) is currently 9.48%.

Insiders Place Their Bets

In other news, CAO Kimberly D. Campos sold 879 shares of the stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $33.84, for a total value of $29,745.36. Following the completion of the transaction, the chief accounting officer owned 7,422 shares of the company’s stock, valued at approximately $251,160.48. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $34.60, for a total value of $692,000.00. Following the transaction, the chairman directly owned 1,206,788 shares in the company, valued at $41,754,864.80. This trade represents a 1.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,879 shares of company stock valued at $3,054,545 in the last quarter. 15.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Universal Insurance by 46.0% during the first quarter. Bank of America Corp DE now owns 143,557 shares of the insurance provider’s stock worth $4,904,000 after purchasing an additional 45,224 shares during the period. Empowered Funds LLC lifted its holdings in shares of Universal Insurance by 7.4% during the first quarter. Empowered Funds LLC now owns 143,096 shares of the insurance provider’s stock valued at $4,888,000 after purchasing an additional 9,841 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Universal Insurance by 20.2% in the 1st quarter. Quantinno Capital Management LP now owns 21,716 shares of the insurance provider’s stock valued at $742,000 after purchasing an additional 3,646 shares during the period. Lazard Asset Management LLC boosted its position in shares of Universal Insurance by 4.7% in the 1st quarter. Lazard Asset Management LLC now owns 116,196 shares of the insurance provider’s stock valued at $3,969,000 after purchasing an additional 5,237 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Universal Insurance by 1.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider’s stock worth $803,000 after purchasing an additional 348 shares in the last quarter. Institutional investors 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.