Insider Selling: Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sells 20,000 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now owns 1,062,262 shares in the company, valued at $21,468,315.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Universal Insurance Price Performance

Shares of UVE opened at $20.16 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.54 and a debt-to-equity ratio of 0.25. The firm has a market cap of $570.33 million, a price-to-earnings ratio of 8.20 and a beta of 0.90. Universal Insurance Holdings, Inc. has a 52 week low of $15.63 and a 52 week high of $23.27. The stock has a 50 day moving average of $20.59 and a 200-day moving average of $19.81.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.30. The firm had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same quarter in the previous year, the firm earned ($0.16) earnings per share. As a group, analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Saturday.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd boosted its stake in Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 1,328 shares during the period. CWA Asset Management Group LLC bought a new stake in shares of Universal Insurance in the 3rd quarter worth approximately $6,322,000. Summit Global Investments acquired a new position in Universal Insurance during the 3rd quarter valued at approximately $588,000. Inspire Advisors LLC grew its stake in Universal Insurance by 20.3% during the 3rd quarter. Inspire Advisors LLC now owns 27,730 shares of the insurance provider’s stock worth $614,000 after buying an additional 4,672 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its position in Universal Insurance by 64.6% in the third quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock worth $4,468,000 after buying an additional 79,138 shares during the period. Institutional investors own 66.61% of the company’s stock.

About Universal Insurance

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.