Universal Insurance (NYSE:UVE) Trading Down 5% – Should You Sell?

Universal Insurance Holdings, Inc. (NYSE:UVE)’s stock price traded down 5% during mid-day trading on Friday . The company traded as low as $19.09 and last traded at $19.09. 94,598 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 189,479 shares. The stock had previously closed at $20.10.

Analysts Set New Price Targets

Separately, StockNews.com raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Friday.

Universal Insurance Trading Down 4.3 %

The business has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $19.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $547.96 million, a price-to-earnings ratio of 6.80 and a beta of 0.89.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The firm had revenue of $380.21 million for the quarter, compared to analyst estimates of $340.09 million. During the same period last year, the company earned $0.87 EPS. On average, equities analysts predict that Universal Insurance Holdings, Inc. will post 1.28 earnings per share for the current year.

Insider Transactions at Universal Insurance

In other news, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares in the company, valued at $24,318,427.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the transaction, the director now owns 473,899 shares in the company, valued at approximately $9,729,146.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,173 shares of company stock worth $1,571,502 in the last three months. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds have recently modified their holdings of UVE. Allspring Global Investments Holdings LLC raised its holdings in shares of Universal Insurance by 11,666.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock valued at $1,193,000 after buying an additional 58,214 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Universal Insurance by 109.6% during the 1st quarter. Principal Financial Group Inc. now owns 22,484 shares of the insurance provider’s stock valued at $457,000 after buying an additional 11,758 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Universal Insurance by 31.7% during the 1st quarter. BNP Paribas Financial Markets now owns 19,875 shares of the insurance provider’s stock valued at $404,000 after buying an additional 4,781 shares during the period. LSV Asset Management raised its holdings in shares of Universal Insurance by 6.8% during the 1st quarter. LSV Asset Management now owns 313,902 shares of the insurance provider’s stock valued at $6,378,000 after buying an additional 19,900 shares during the period. Finally, Empowered Funds LLC raised its holdings in shares of Universal Insurance by 8.2% during the 1st quarter. Empowered Funds LLC now owns 164,056 shares of the insurance provider’s stock valued at $3,334,000 after buying an additional 12,392 shares during the period. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.