Dimensional Fund Advisors LP recently announced the acquisition of new stake in Universal Insurance Holdings Inc. (NYSE:UVE). The institutional investor has increased its shareholding in the Financial company by 4.58% to 1.95 million shares with purchase of 85486.0 shares. This fresh investment now brings its stake to 6.40% valued currently at $20.66 million. In addition, The Vanguard Group, Inc. raised its holdings by 30185.0 to 1.82 million shares. And Invesco Capital Management LLC has lifted its position by 7.45% or 0.12 million shares – to 1.66 million shares.
With over 0.17 million Universal Insurance Holdings Inc. (UVE) shares trading Friday and a closing price of $12.24 on the day, the dollar volume was approximately $2.08 million. The shares have shown a positive half year performance of 6.11% and its price on 01/20/23 gained nearly 0.99%. Currently, there are 30.60M common shares owned by the public and among those 27.40M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for UVE have a consensus price objective of $11.00. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $11.00. The average price target is -11.27% below its recent price level and a downside to the estimated low will see the stock lose -11.27% over that period. But a downside of -11.27% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 166,238 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 90,713 shares.
The top 3 mutual fund holders in Universal Insurance Holdings Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 2.03 million shares of the company’s stock, all valued at over $21.49 million. The company sold 26764.0 shares recently to bring their total holdings to about 6.65% of the shares outstanding. iShares Russell 2000 ETF now owns shares totaling to 2.12% of the shares outstanding.
Shares of Universal Insurance Holdings Inc. (NYSE: UVE) opened at $12.26, up $0.14 from a prior closing price of $12.12. However, the script later moved the day high at 12.26, up 0.99%. The company’s stock has a 5-day price change of 3.73% and 27.40% over the past three months. UVE shares are trading 15.58% year to date (YTD), with the 12-month market performance down to -32.44% lower. It has a 12-month low price of $8.29 and touched a high of $18.37 over the same period. UVE has an average intraday trading volume of 211.37K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.28%, 14.83%, and 7.05% respectively.
Institutional ownership of Universal Insurance Holdings Inc. (NYSE: UVE) shares accounts for 69.40% of the company’s 30.60M shares outstanding. Mutual fund holders own 28.11%, while other institutional holders and individual stakeholders account for 41.35% and 27.11% respectively.
It has a market capitalization of $369.77M and a beta (3y monthly) value of 0.97. The earnings-per-share (ttm) stands at -$3.10. The company has a debt-to-equity ratio at 0.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.96% over the week and 3.17% over the month.
Analysts forecast that Universal Insurance Holdings Inc. (UVE) will achieve an EPS of -$0.12 for the current quarter, $0.67 for the next quarter and $1.6 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.12 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$1.53 a year ago. Earnings per share for the fiscal year are expected to increase by 9.10%, and 185.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Universal Insurance Holdings Inc. (UVE) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 2 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the UVE, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on May 28, 2020, with the firm’s price target at $19. Keefe Bruyette coverage for the Universal Insurance Holdings Inc. (UVE) stock in a research note released on November 04, 2019 offered a Underperform rating with a price target of $27.