The Potential Rise in the Price of Universal Insurance Holdings Inc. (UVE) following insiders activity


Universal Insurance Holdings Inc.’s recent filing unveils that its Director Springer Jon unloaded Company’s shares for reported $0.19 million on Dec 07. In the deal valued at $11.34 per share,16,861 shares were sold. As a result of this transaction, Springer Jon now holds 523,672 shares worth roughly $ 10.12 million.

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Then, McCahill Francis Xavier III bought 3,000 shares, generating $30,510 in total proceeds. Upon buying the shares at $10.17, the Director now owns 13,337 shares.

Before that, PETERSON RICHARD D bought 1,075 shares. Universal Insurance Holdings Inc. shares valued at $10,003 were divested by the Director at a price of $9.30 per share. As a result of the transaction, PETERSON RICHARD D now holds 6,412 shares, worth roughly $0.12 million.

Piper Sandler upgraded its Universal Insurance Holdings Inc. [UVE] rating to an Overweight from a a Neutral in a research note published on Tuesday, February 27, 2023; the price target was increased to $19 from $11. PT values the company’s stock at a premium of -1.74 to its Tuesday closing price. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who began to cover the stock in late May with a ‘”a Neutral”‘ rating. Keefe Bruyette also remained covering UVE and has decreased its forecast on November 04, 2019 with a “an Underperform” recommendation from previously “Mkt perform” rating. Keefe Bruyette revised its rating on July 27, 2018. It rated UVE as “a Mkt perform” which previously was an “an Outperform”.

Price Performance Review of UVE

On Tuesday, Universal Insurance Holdings Inc. [NYSE:UVE] saw its stock jump 5.86% to $19.33. On the same session, the stock had its day’s lowest price of $17.92, but rose to a high of $19.64. Over the last five days, the stock has gained 54.89%. Universal Insurance Holdings Inc. shares have risen nearly 82.53% since the year began. Nevertheless, the stocks have risen 61.23% over the past one year. While a 52-week high of $18.82 was reached on 02/28/23, a 52-week low of $8.29 was recorded on 01/05/23. SMA at 50 days reached $11.99, while 200 days put it at $11.60. A total of 0.87 million shares were traded, compared to the trading of 0.62 million shares in the previous session.

Levels Of Support And Resistance For UVE Stock

The 24-hour chart illustrates a support level at 18.29, which if violated will result in even more drops to 17.24. On the upside, there is a resistance level at 20.01. A further resistance level may holdings at 20.68. The Relative Strength Index (RSI) on the 14-day chart is 89.16, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.02, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 4.10%. Stochastics %K at 94.67% indicates the stock is a selling.

How much short interest is there in Universal Insurance Holdings Inc.?

A steep rise in short interest was recorded in Universal Insurance Holdings Inc. stocks on Jan 30, 2023, dropping by 16770.0 shares to a total of 0.52 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 0.54 million shares. There was a decline of -3.2%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.28% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.52.

Universal Insurance Holdings Inc. [UVE] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 4,234,134 shares, or roughly 13.88% of the outstanding UVE shares. In other words, the investor’s shares have risen by 50,103 from its previous 13-F filing of 4184031.0. Additionally, Dimensional Fund Advisors LP decreased -1.54% of its stake after which the total value it holdings stand at $24,475,922, while The Vanguard Group, Inc. added 0.46% of its stake to hold $23.3 million in the firm. Over the last quarter, Donald Smith & Co., Inc. purchased 209,215 shares of Universal Insurance Holdings Inc., while SSgA Funds Management, Inc. bought 39,213 shares. At present, LSV Asset Management is holding 1,189,101 shares valued at $15.15 million. Invesco Capital Management LLC owned 597,699 shares of the company at the time of its most recent 13F filing, worth $7.61 million.

However, 2 analysts have rated UVE stock as an Overweight in their predictions for 2023.


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