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
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.
- Source: Press Release
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
Aug. 6, 2013, 5:44 PM
UVE vs. ETF Alternatives
Universal Insurance Holdings Inc is a vertically integrated insurance holding company, which through its various subsidiaries, covers insurance underwriting, distribution, claims processing and exposure management.
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