Natural Disasters Aren't The Only Threats To Universal Insurance Holdings
Nathan Buehler • 17 Comments
Nathan Buehler • 17 Comments
Tue, Jun. 14, 1:01 PM
Mon, May 2, 4:28 PM
Nov. 20, 2015, 11:27 AM
- "Universal Insurance (UVE -10.8%) understands the Florida market," says the company, as it attempts to rebut - point by point - the short sale case made this week by Anthony Bozza.
- As for Bozza's claim that a Cat 4 hurricane would blow the company up, Universal says it's "patently false, irresponsible, and defamatory."
- "No single hurricane event in recorded history is projected to cause losses exceeding the limits of our 2015 reinsurance program ... UVE would remain profitable even if Florida were to face three storms in one season on the scale of Hurricane Andrew."
- Previously: Under attack, Universal Insurance launches $10M buyback (Nov. 19)
Nov. 19, 2015, 5:16 PM
- Universal Insurance (NYSE:UVE) is lower by more than one-third since Lakewood Capital's Anthony Bozza pitched the stock as a short at the Robin Hood Conference on Tuesday. Adding to the pain, Lee Ainslie said it was the best short pitch he's seen in 25 years in the industry, and Whitney Tilson said the stock is one of his largest short positions and "certain to go to zero."
- The company this evening, announces authorization to buy back up to $10M of its shares, enough to repurchase 1.4% of the float at today's close of $19.57.
- The stock's lower by another 2.6% to $19.06 after hours.
- Previously: Small bounce for Universal Insurance from yesterday's plunge (Nov. 18)
Nov. 18, 2015, 9:15 AM
Nov. 18, 2015, 9:01 AM
- Universal Insurance (NYSE:UVE) plunged yesterday after Lakewood Capital's Anthony Bozza pitched the stock as a short at the Robin Hood conference, noting among other things, "shady management."
- The big national insurers have exited or cut back in Florida, leaving questionable in value market share for Universal, says Bozza.
- Responding to the allegations, Universal reminds of the highly regulated nature of its industry, and its consistent track record of top and bottom line growth. Strategic changes made to its reinsurance program this year will continue to drive financial improvements. says the company.
- UVE +9.1% premarket to $22.65 after diving nearly 35% yesterday.
Nov. 17, 2015, 5:38 PM
Oct. 29, 2015, 5:23 PM
- Universal Insurance (NYSE:UVE): Q3 EPS of $0.84 beats by $0.17.
- Revenue of $157.04M (+51.7% Y/Y) beats by $3.48M.
- Shares +3.3% AH.
Dec. 10, 2014, 9:53 AM
- KBW downgrades a group of property & casualty insurers to Market Perform from Outperform after (for most of the names) pleasing "upward and to the right" runs.
- Donegal Group (DGICA +0.5%), Infinity (IPCC -1%), Partnerre (PRE -0.1%), Selective Insurance (SIGI -0.3%), Hanover Insurance (THG -1.1%), United Insurance Holdings (UVE -4.7%)
Jun. 17, 2014, 8:21 AM
- Universal Insurance approves the repurchase of up to $10M of stock through August 1, 2015. It's good for more than 750K shares at the current price, or a bit more than 2% of the float.
- UVE +1.1% premarket
May 9, 2014, 3:40 PM
- Universal Insurance (UVE -15.9%) tumbles as a boost in net income in Q1 to $13.5M or $0.38 per share from $12M and $0.29, didn't meet expectations for EPS of $0.51. The boosted bottom line came thanks to investment income - with gains of $902K this year vs. a loss of $16M a year ago.
- As for operations: Direct premiums written fell to $191.9M from $204.1M a year ago.
- The company repurchased 1.2M shares in Q1 at an average price of $12.03 each. The total float is about 35M shares.
May 9, 2014, 12:47 PM
Apr. 28, 2014, 10:52 AM
- Property & casualty insurers are bouncing from a tough Friday session which was led by declines in Chubb and Cincinnati Financial after tough Q1 results. Today's biggest gainer is United Insurance Holdings (UIHC +4.8%) - continuing a big run after being initiated with an Outperform rating at Wells Fargo.
- Aren't insurers supposed to be bought after a tough quarter for catastrophes as it means they can raise rates?
- Others: HCI Group (HCI +3.1%), Universal Insurance (UVE +3.5%), W.R. Berkley (WRB +1.2%), Travelers (TRV +1.6%), Allstate (ALL +1.3%), Chubb (CB +1.3%), and Cincinnati Financial (CINF +0.9%).
- ETFs: KIE, IAK, KBWP, KBWI
Mar. 24, 2014, 5:35 PM
Feb. 25, 2014, 9:12 AM
- 8x8 Inc. (EGHT) +4.8% premarket and Universal Insurance (UVE) +2.7% as the companies are selected to join the S&P SmallCap 600 after the close of trading Feb. 28; EGHT and UVE will replace Prospect Capital (PSEC) and Avid Technology (AVID), respectively.
- Also, Knowles Corp. will be added to the S&P MidCap 400 as it is spun off from S&P 500 constituent Dover (DOV) to shareholders, effective after the close of trading Feb. 28; DOV will remain in the S&P 500 after the spinoff; Knowles, which will use the ticker symbol KN, is replacing Apollo Investment (AINV).
Nov. 4, 2013, 5:48 PM
Universal Insurance Holdings, Inc. is a vertically integrated insurance holding company, which through its subsidiaries, covers substantially all aspects of insurance underwriting, distribution, claims processing and exposure management services. Its subsidiaries include Universal Property &... More
Industry: Property & Casualty Insurance
Country: United States
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