Universal Insurance Holdings Inc (UVE) Stock Price Up 8.2%

Universal Insurance Holdings Inc (NYSE:UVE)’s share price rose 8.2% during mid-day trading on Friday . The stock traded as high as $18.30 and last traded at $17.85. Approximately 3,413,422 shares traded hands during trading, an increase of 1,250% from the average daily volume of 252,895 shares. The stock had previously closed at $16.50.

UVE has been the subject of several analyst reports. BidaskClub lowered Universal Insurance Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. ValuEngine lowered Universal Insurance Holdings from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 18th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $29.00 target price on shares of Universal Insurance Holdings in a research report on Friday, August 18th.

The company has a market capitalization of $622.00 million, a P/E ratio of 6.32 and a beta of 1.84. The stock has a 50-day moving average of $22.49 and a 200-day moving average of $24.22.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, September 12th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, September 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.14%. Universal Insurance Holdings’s dividend payout ratio (DPR) is 19.93%.

Several institutional investors and hedge funds have recently modified their holdings of UVE. Louisiana State Employees Retirement System raised its position in shares of Universal Insurance Holdings by 1.5% during the first quarter. Louisiana State Employees Retirement System now owns 13,300 shares of the insurance provider’s stock worth $326,000 after acquiring an additional 200 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Universal Insurance Holdings during the first quarter worth about $270,000. Russell Investments Group Ltd. raised its position in shares of Universal Insurance Holdings by 10.3% during the first quarter. Russell Investments Group Ltd. now owns 49,888 shares of the insurance provider’s stock worth $1,221,000 after acquiring an additional 4,661 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Universal Insurance Holdings by 8.7% during the first quarter. Wells Fargo & Company MN now owns 345,375 shares of the insurance provider’s stock worth $8,461,000 after acquiring an additional 27,707 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in shares of Universal Insurance Holdings by 2.9% during the first quarter. Great West Life Assurance Co. Can now owns 45,221 shares of the insurance provider’s stock worth $1,106,000 after acquiring an additional 1,279 shares during the last quarter. Institutional investors own 73.35% of the company’s stock.

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About Universal Insurance Holdings

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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