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UVE - Universal Insurance Holdings Inc.

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by Tiptopptrader, Apr 15, 2016.

  1. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Universal Insurance Holdings, Inc., through its subsidiaries, provides various property and casualty insurance products. The company primarily underwrites homeowners’ insurance products; and offers reinsurance intermediary services. It offers its products through a network of independent agents in Florida, Delaware, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Minnesota, North Carolina, Pennsylvania, and South Carolina, the United States. The company was formerly known as Universal Heights, Inc. and changed its name to Universal Insurance Holdings, Inc. in January 2001. Universal Insurance Holdings, Inc. was founded in 1990 and is based in Fort Lauderdale, Florida.

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  2. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Universal Insurance Holdings, Inc. Announces Quarterly Dividend Of $0.14 Per Share
    FORT LAUDERDALE, Fla., April 13, 2016 /PRNewswire/ -- Universal Insurance Holdings, Inc. (UVE) announced today that its Board of Directors declared a cash dividend of $0.14 per share of common stock to be paid on July 5, 2016 to shareholders of record on June 15, 2016. If declared and paid as intended, the annual aggregate dividend in 2016 will be $0.56 for each common share
    http://finance.yahoo.com/news/universal-insurance-holdings-inc-announces-201500974.html
     
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  3. Tiptopptrader

    Tiptopptrader Well-Known Member

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    UVE has been on a down trend, as insurance companies have been out of favor. Doing my DD it is a fundamentally sound company and by this chart they have been beating expectations. I have started a small position and waiting for a bigger pull back to buy more. Dropping 1.13% in a market like today is a sign to go lower.It has nice upside potential to 36+ when insurance companies are back in favor. I will try to elaborate on that more in my Top Picks thread later tonight

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    FastEddy likes this.
  4. DoveJohns

    DoveJohns Active Member

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    It did good today with +4% . Still very low volume but it has been slowly increasing last 3-4 days. If this rally continues, tomorrow can be another good day for UVE.

    We barely past mid BB, MACD, CCI, RSI they are all about to give bullish signals with another up day. Once it happens we might see volume coming too


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  5. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Universal Insurance Holdings, Inc. Announces First Quarter 2016 Earnings Release and Conference Call Date
    FORT LAUDERDALE, Fla., April 20, 2016 /PRNewswire/ --Universal Insurance Holdings, Inc. (UVE) announced today that it will release its first quarter 2016 financial results after the close of trading on the NYSE on Monday, May 2, 2016.

    Members of the Universal management team will host a conference call on Tuesday, May 3, 2016 at 10:00 AM ET to discuss the first quarter financial results. Following prepared remarks, management will conduct a question and answer session.

    The call will be accessible by dialing toll free at (888) 887-7180 or toll at (270) 823-1518 (using the Conference I.D.: 97089515). A replay of the call can be accessed toll free at (855) 859-2056 or toll at (404) 537-3406 (using the Conference I.D.: 97089515).
    http://finance.yahoo.com/news/universal-insurance-holdings-inc-announces-202600473.html
     
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  6. Tiptopptrader

    Tiptopptrader Well-Known Member

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    If you watch my top picks thread you will see I increased by position in UVE. I am playing it for the mid-term as when insurance companies come back in favor there is a big potential to go back to $36. They are fundamentally strong and pay divi's of .14 per quarter.

    upload_2016-4-22_7-49-19.png

    TipTops - Top Picks
    http://stockaholics.net/threads/tiptops-top-picks.122/#post-3619

    upload_2016-4-22_7-48-59.png
     
  7. Tiptopptrader

    Tiptopptrader Well-Known Member

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    I love when a stock goes up the day after I buy it or just increase my position like I did yesterday. With the markets down UVE is showing strength

    upload_2016-4-22_9-17-36.png
     
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  8. Tiptopptrader

    Tiptopptrader Well-Known Member

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    UVE one of my longs is up today and I have no idea on what is up on unless there is a leak about earnings which is on May 2nd after the close

    upload_2016-4-28_12-7-14.png
     
  9. Tiptopptrader

    Tiptopptrader Well-Known Member

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    Now I know why UVE was up

    Universal Insurance Holdings, Inc. Announces Sale of $10 Million of Common Stock to RenaissanceRe
    FORT LAUDERDALE, Fla., April 28, 2016 /PRNewswire/ -- Universal Insurance Holdings, Inc. (UVE) today announced that it has sold 583,771 shares of common stock to RenaissanceRe Ventures Ltd., a subsidiary of RenaissanceRe Holdings Ltd. (RNR) (collectively, "RenaissanceRe"), in a private placement. RenaissanceRe is a global provider of catastrophe and specialty reinsurance and insurance.

    "I am extremely pleased to have RenaissanceRe, one of our core reinsurance partners, make this investment in our Company," said Sean P. Downes, Universal's Chairman and Chief Executive Officer. "This additional equity capital further strengthens our balance sheet and positions us for continued, profitable growth."

    The common shares of UVE were sold to RenaissanceRe at a price of $17.13 per share, the closing price of UVE common stock on April 26, 2016, for total consideration of $10 million.
    http://finance.yahoo.com/news/universal-insurance-holdings-inc-announces-214400364.html
     
  10. DoveJohns

    DoveJohns Active Member

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    Pretty strong again on a down market. Probably people are switching to more defensive and lower P/E stocks. Currently, over +3%. $17.74
     
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  11. Tiptopptrader

    Tiptopptrader Well-Known Member

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    It has been a rather ugly market this weak but UVE has weathered through on the positive side. Looking at the chart there is a tightening of the BB's that could be a sign of a break out. UVE has good fundamentals and a 3.28% dividend yield. This is one of my long positions and I have a $36 price target on it when Insurance companies are back in favor and a $20 target in the mid-term.

    upload_2016-4-30_6-41-45.png


    upload_2016-4-30_6-40-11.png
     
    rg7803 likes this.
  12. rg7803

    rg7803 Active Member

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    Great chart indeed, thanks.
    This one does worth a close eye next week.
     
  13. DoveJohns

    DoveJohns Active Member

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    I didnt realize UVE's ER is this Monday AMC.
     
  14. Tiptopptrader

    Tiptopptrader Well-Known Member

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    There is a fair chance of a beat but in this crazy market lately you never know.

    upload_2016-4-30_13-34-47.png
     
  15. Tiptopptrader

    Tiptopptrader Well-Known Member

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    UVE came out the gate strong this morning and then it pulled back.I added a slice to my position on the pullback. Earnings are after the bell. If they disappoint I will buy the drop and if they beat I will add another slice on the pop. Currently up .22 @17.82
     
  16. DoveJohns

    DoveJohns Active Member

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    "
    Universal Insurance Holdings, Inc. UVE, -0.11% today reported record first quarter net income of $25.2 million, an increase of 13.0%, or $2.9 million, over the same quarter in 2015. Diluted earnings per share (EPS) were $0.71 for the first quarter of 2016, an increase of 14.5%, or $0.09 per share, over the same quarter in 2015.

    "I am very pleased with our outstanding first quarter results, which we achieved notwithstanding the most active severe weather experienced in the first quarter in Florida in company history," said Sean P. Downes, Universal's Chairman and Chief Executive Officer. "Our record performance in the quarter highlights the strength of our underwriting standards, our claims handling ability and the high quality of our book of business. We continued to execute well on our key strategic initiatives, including further progress on our geographic expansion efforts as we wrote our first homeowners insurance policy in Michigan and received certificates of authority from New York and New Jersey. We enter the second quarter with a robust financial position and confidence in our underlying growth prospects and will continue to maintain our focus on writing high quality, rate-adequate organic business to drive increasing value for Universal shareholders."


    First-Quarter 2016 & Recent Highlights



    • Net earned premiums grew by $58.1 million, or 61.6%, to $152.4 million.
    • Total revenues increased by $60.6 million, or 58.4%, to $164.4 million.
    • Net income increased by $2.9 million, or 13.0%, to $25.2 million.
    • Diluted EPS grew by $0.09, or 14.5%, to $0.71 per share.
    • Paid dividends of $0.14 per share.
    • Received Certificates of Authority from New York and New Jersey.
    • Wrote our first policy in Michigan.
    • Launched beta test of Universal Direct®, a Direct-to-Consumer online platform for homeowners insurance and wrote our first policy on Universal Direct®.

    ---------

    See further details:: http://www.marketwatch.com/story/un...rst-quarter-2016-financial-results-2016-05-02
     
  17. Tiptopptrader

    Tiptopptrader Well-Known Member

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    I am not home with my notes but I believe that is a beat. Seems like the number was .62 to beat

    Universal Insurance Holdings, Inc. Reports Record First Quarter 2016 Financial Results
    FORT LAUDERDALE, Fla., May 2, 2016 /PRNewswire/ -- Universal Insurance Holdings, Inc. (UVE) today reported record first quarter net income of $25.2 million, an increase of 13.0%, or $2.9 million, over the same quarter in 2015. Diluted earnings per share (EPS) were $0.71 for the first quarter of 2016, an increase of 14.5%, or $0.09 per share, over the same quarter in 2015.

    "I am very pleased with our outstanding first quarter results, which we achieved notwithstanding the most active severe weather experienced in the first quarter in Florida in company history," said Sean P. Downes, Universal's Chairman and Chief Executive Officer. "Our record performance in the quarter highlights the strength of our underwriting standards, our claims handling ability and the high quality of our book of business. We continued to execute well on our key strategic initiatives, including further progress on our geographic expansion efforts as we wrote our first homeowners insurance policy in Michigan and received certificates of authority from New York and New Jersey. We enter the second quarter with a robust financial position and confidence in our underlying growth prospects and will continue to maintain our focus on writing high quality, rate-adequate organic business to drive increasing value for Universal shareholders."
    http://finance.yahoo.com/news/universal-insurance-holdings-inc-reports-201600690.html
     
  18. DoveJohns

    DoveJohns Active Member

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    Yeah beat for both EPS and Revenue... Currently up 2.3% but only with 1.9K shares. I assume we will see the real action tomorrow
     
  19. Tiptopptrader

    Tiptopptrader Well-Known Member

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    You are correct DoveJohns, and it picked up another cent to close AH @18 but on low volume as UVE as the norm it does not trade much in extended hours. I guess we will have to be our own analysts as there is no news of a beat or disappointment. Here is a little more info and it looks good to me and if the market looks like it the same a retest of $19.50 should in the short term

    upload_2016-5-2_17-28-15.png

    FORT LAUDERDALE, Fla., May 2, 2016 /PRNewswire/ -- Universal Insurance Holdings, Inc. (UVE) today reported record first quarter net income of $25.2 million, an increase of 13.0%, or $2.9 million, over the same quarter in 2015. Diluted earnings per share (EPS) were $0.71 for the first quarter of 2016, an increase of 14.5%, or $0.09 per share, over the same quarter in 2015.

    "I am very pleased with our outstanding first quarter results, which we achieved notwithstanding the most active severe weather experienced in the first quarter in Florida in company history," said Sean P. Downes, Universal's Chairman and Chief Executive Officer. "Our record performance in the quarter highlights the strength of our underwriting standards, our claims handling ability and the high quality of our book of business. We continued to execute well on our key strategic initiatives, including further progress on our geographic expansion efforts as we wrote our first homeowners insurance policy in Michigan and received certificates of authority from New York and New Jersey. We enter the second quarter with a robust financial position and confidence in our underlying growth prospects and will continue to maintain our focus on writing high quality, rate-adequate organic business to drive increasing value for Universal shareholders."

    First-Quarter 2016 & Recent Highlights
    Net earned premiums grew by $58.1 million, or 61.6%, to $152.4 million.
    Total revenues increased by $60.6 million, or 58.4%, to $164.4 million.
    Net income increased by $2.9 million, or 13.0%, to $25.2 million.
    Diluted EPS grew by $0.09, or 14.5%, to $0.71 per share.
    Paid dividends of $0.14 per share.
    Received Certificates of Authority from New York and New Jersey.
    Wrote our first policy in Michigan.
    Launched beta test of Universal Direct®, a Direct-to-Consumer online platform for homeowners insurance and wrote our first policy on Universal Direct®.
    First-Quarter 2016 Results

    Net income for the first quarter of 2016 of $25.2 million reflects an improvement across all revenue measures. The increase in net earned premiums includes both organic growth in policies in force and lower reinsurance costs, including the elimination of quota share reinsurance arrangements effective June 2015.

    Earned premiums, total revenues, net income and diluted EPS were higher than any other first quarter in the Company's history.

    Net income was offset by $8.5 million beyond originally projected pre-tax net losses and loss adjustment expenses attributable to first quarter weather events in Florida. These losses and loss adjustment expenses were incremental to amounts provided for in the underlying loss ratio based on historical experience for such events.

    Losses and loss adjustment expenses as a percentage of net earned premiums increased 7.8 percentage points resulting in a net loss ratio of 43.4% for the first quarter, compared to 35.6% for the same period last year. The key driver of this increase was the severe weather events in the first quarter of 2016.

    Stockholders' equity reached an all-time high of $314.3 million as of March 31, 2016 compared to $293.1 million as of December 31, 2015. Book value per common share also reached an all-time high of $9.03 as March 31, 2016 compared to $8.34 as of December 31, 2015.

    Cash Dividends

    On January 14, 2016, the Company announced that its Board of Directors had declared an increased cash dividend of $0.14 per share of common stock, up $0.02 from the $0.12 per share paid during the past four quarters, and that the Board expected to declare and pay a proposed regular quarterly dividend during fiscal year 2016 of $0.14 per share. Payment was made on March 2, 2016 to shareholders of record on February 18, 2016.

    On April 13, 2016, the Company announced that its Board of Directors had declared a cash dividend of $0.14 per share of common stock to be paid on July 5, 2016 to shareholders of record on June 15, 2016.

    Conference Call

    Members of the Universal management team will host a conference call on Tuesday, May 3, 2016 at 10:00 AM ET to discuss the first quarter 2016 financial results. Following prepared remarks, management will conduct a question and answer session.

    The call will be accessible by dialing toll free at (888) 887-7180 or toll at (270) 823-1518 (using the Conference I.D.: 97089515). A replay of the call can be accessed toll free at (855) 859-2056 or toll at (404) 537-3406 (using the Conference I.D.: 97089515).

    About Universal Insurance Holdings, Inc.

    Universal Insurance Holdings, Inc., with its wholly-owned subsidiaries, is a vertically integrated insurance holding company performing all aspects of insurance underwriting, distribution and claims. Universal Property & Casualty Insurance Company (UPCIC), a wholly-owned subsidiary of the Company, is one of the leading writers of homeowners insurance in Florida and is now fully licensed and has commenced its operations in North Carolina, South Carolina, Hawaii, Georgia, Massachusetts, Maryland, Delaware, Indiana, Pennsylvania, Minnesota and Michigan. American Platinum Property and Casualty Insurance Company, also a wholly-owned subsidiary, currently 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. For additional information on the Company, please visit our investor relations website at www.universalinsuranceholdings.com.
    http://finance.yahoo.com/news/universal-insurance-holdings-inc-reports-201600690.html
     

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  20. Tiptopptrader

    Tiptopptrader Well-Known Member

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    UVE up in pre-market on low volume and bid is at the HOD

    upload_2016-5-3_6-13-24.png
     

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