UVE dropped again today in a down market with even lower volume than yesterday and moving out of the overbought level
This came in after the bell. As the average trading volume is only 316,133 this should help boost up the price. Form 8-K for UNIVERSAL INSURANCE HOLDINGS, INC. 13-Jun-2016 Other Events, Financial Statements and Exhibits ITEM 8.01 Other Events. On June 13, 2016, Universal Insurance Holdings, Inc. ("Company") announced that its Board of Directors authorized the repurchase of up to $20,000,000 of the Company's outstanding common stock in the open market through December 31, 2017. The related press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference. ITEM 9.01 Financial Statements and Exhibits. (d) Exhibits: No. Description 99.1 Press release dated June 13, 2016 https://biz.yahoo.com/e/160613/uve8-k.html
And help boost up the price it did, with this my short term target of $20 should take too long to achive
I had suggested in my picks thread to make a 1st tier buy on the dip for UVE as there could be some profit taking tomorrow that might bring a better price. Then again if the markets are positive it may continue the pop on the open. (I believe it dipped at about 19.26)
Looking back I stopped out of 3/4's of my position on UVE but I have added back some shares during the fire sale. I still have high hopes for UVE and will add more when I see a trend back up. Universal Insurance Holdings, Inc. Subsidiary UPCIC Writes First Homeowners Insurance Policy and Launches Universal Direct in Alabama http://finance.yahoo.com/news/universal-insurance-holdings-inc-subsidiary-201500306.html
My adding from the Brexit fall is now paying off and been moving up nicely with the market. If buying UVE I suggest waiting for a significant market pull back. Maybe get in for under $19...It was nearing $20 before the fallout
UVE is back to pre-Brexit prices. Before the fallout I was looking for a break of $20 and now that is my near term target again. As we are due a market pullback not sure about getting it for under 19 but you never know. If your read further in the thread you will see my mid and long term target prices. Strong volume
It appears it will take a bigger market drop to get UVE down to $19...Holding good with the broader markets down. 4 cents from hitting my $20 target price this morning
UVE is up 22% since I posted this on April 19th. I stand behind my long term price target of $36. Now that my $20 target has been hit, the next target in the mid term is $24. You must keep in mind the market rally that we are in and that could correct at any time besides UVE is overbought. With that you might want to wait for a pull back to get a better entry
I was going to add to my position on anticipation of a market pullback but UVE is not cooperating as the broader markets are down Sign of a strong stock
I added a small slice to my position this morning off the bottom with a bigger bid in if the market should take a dive
Universal Insurance Holdings, Inc. Announces Second Quarter 2016 Earnings Release and Conference Call Date FORT LAUDERDALE, Fla., July 20, 2016 /PRNewswire/ -- Universal Insurance Holdings, Inc. (UVE) announced today that it will release its second quarter 2016 financial results after the close of trading on the NYSE on Thursday, July 28, 2016. Members of the Universal management team will host a conference call that day at 4:45 PM ET to discuss the second 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.: 52662993). A live audio webcast of the call will also be accessible on the Universal Insurance website at www.universalinsuranceholdings.com. 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.: 52662993), and will be available through August 12, 2016. http://finance.yahoo.com/news/universal-insurance-holdings-inc-announces-201500357.html
I recommended UVE again yesterday in my picks thread on the strength when the market was down. Best to wait for a pull back now.
UVE making a nice rebound from profit taking and the market down. ER after the close on Thursday, July 28
Earnings after the bell Universal Insurance Holdings Launches Universal Direct® in Indiana and South Carolina http://finance.yahoo.com/news/universal-insurance-holdings-launches-universal-201500243.html
They crushed the estimate as well Universal Insurance Holdings, Inc. Reports Record Financial Results for the Second Quarter of 2016 FORT LAUDERDALE, Fla., July 28, 2016 /PRNewswire/ -- Universal Insurance Holdings, Inc. (UVE) today reported record quarterly net income of $33.6 million, an increase of 36.2%, or $8.9 million, over the same quarter in 2015. Diluted earnings per share (EPS) were $0.94 for the second quarter of 2016, an increase of 36.2%, or $0.25 per share, over the same quarter in 2015. http://finance.yahoo.com/news/universal-insurance-holdings-inc-reports-201500292.html UVE normally does not trade in AH and this pop is on low volume but it could very forecast tomorrows action
