Keefe, Bruyette & Woods set a $32.00 target price on Universal Insurance (NYSE:UVE) in a research report released on Monday. The brokerage currently has a buy rating on the insurance provider’s stock.
Separately, ValuEngine raised Universal Insurance from a buy rating to a strong-buy rating in a report on Friday, October 6th.
Universal Insurance (UVE) opened at $29.75 on Monday. Universal Insurance has a twelve month low of $15.07 and a twelve month high of $30.45. The firm has a market capitalization of $1,020.00, a price-to-earnings ratio of 12.71 and a beta of 1.88. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.03.
Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Wednesday, November 8th. The insurance provider reported $0.28 earnings per share for the quarter. Universal Insurance had a return on equity of 20.90% and a net margin of 11.55%.
Universal Insurance announced that its board has approved a share buyback program on Wednesday, November 8th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other Universal Insurance news, Director Michael Pietrangelo sold 9,969 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.27, for a total transaction of $261,885.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its position in Universal Insurance by 46.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 318,026 shares of the insurance provider’s stock worth $8,699,000 after purchasing an additional 100,257 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Universal Insurance by 94.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,320 shares of the insurance provider’s stock worth $282,000 after purchasing an additional 5,000 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Universal Insurance by 107.5% during the third quarter. Public Employees Retirement System of Ohio now owns 42,831 shares of the insurance provider’s stock worth $985,000 after purchasing an additional 22,191 shares in the last quarter. Algert Global LLC purchased a new stake in Universal Insurance during the third quarter worth $401,000. Finally, California Public Employees Retirement System boosted its position in Universal Insurance by 12.5% during the third quarter. California Public Employees Retirement System now owns 70,769 shares of the insurance provider’s stock worth $1,628,000 after purchasing an additional 7,869 shares in the last quarter. Institutional investors own 77.97% of the company’s stock.
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About Universal Insurance
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).
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