Zacks: Analysts Set $28.00 Target Price for Universal Insurance Holdings, Inc. (NYSE:UVE)

Universal Insurance Holdings, Inc. (NYSE:UVE) has been assigned an average broker rating score of 2.00 (Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating. Universal Insurance Holdings’ rating score has improved by 33.3% from 90 days ago as a result of various analysts’ ratings changes.

Analysts have set a one year consensus price target of $28.00 for the company and are expecting that the company will post $0.71 EPS for the current quarter, according to Zacks. Zacks has also given Universal Insurance Holdings an industry rank of 78 out of 265 based on the ratings given to related companies.

UVE has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Universal Insurance Holdings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Universal Insurance Holdings from $31.00 to $35.00 in a report on Monday, November 2nd.

In related news, insider Stephen Donaghy purchased 19,705 shares of Universal Insurance Holdings stock in a transaction that occurred on Wednesday, November 25th. The stock was purchased at an average price of $20.30 per share, for a total transaction of $400,011.50. Following the transaction, the insider now directly owns 459,242 shares in the company, valued at $9,322,612.60. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Pietrangelo purchased 2,000 shares of Universal Insurance Holdings stock in a transaction that occurred on Tuesday, November 24th. The shares were bought at an average price of $20.26 per share, with a total value of $40,520.00. Following the transaction, the director now owns 61,248 shares in the company, valued at $1,240,884.48. The disclosure for this purchase can be found here.

A hedge fund recently raised its stake in Universal Insurance Holdings stock. Gerstein Fisher increased its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The hedge fund owned 55,130 shares of the company’s stock after buying an additional 3,967 shares during the period. Gerstein Fisher owned approximately 0.15% of Universal Insurance Holdings worth $1,629,000 at the end of the most recent quarter.

Shares of Universal Insurance Holdings (NYSE:UVE) opened at 22.06 on Monday. Universal Insurance Holdings has a 12-month low of $16.50 and a 12-month high of $37.49. The company has a market capitalization of $770.11 million and a PE ratio of 8.02. The firm’s 50-day moving average price is $22.47 and its 200-day moving average price is $27.02.

Universal Insurance Holdings (NYSE:UVE) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.17. On average, analysts expect that Universal Insurance Holdings will post $2.85 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 10th. Stockholders of record on Tuesday, December 1st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, November 27th.

12 Month Chart for NYSE:UVE

Universal Insurance Holdings, Inc. (NYSE:UVE), with its wholly owned subsidiaries, is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims. The Company’s offers homeowners’ insurance through the Insurance Entities, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC). Substantially all aspects of insurance underwriting, distribution and claims processing are performed by the Company’s subsidiaries. UPCIC, a wholly owned subsidiary of the Company, is a writer of homeowners insurance in Florida and has commenced its operations in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, and Indiana. APPCIC, also a wholly owned subsidiary, writes homeowners multi-peril insurance on Florida homes valued in excess of $1 million, which are limits and coverages currently not targeted through its affiliate UPCIC.

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