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Universal Insurance Holdings, Inc. AMEX:UVE

|Includes: Universal Insurance Holdings, Inc (UVE)

Shayne Heffernan of Ebeling Heffernan has confirmed his strong buy on Universal Insurance Holdings, Inc. AMEX:UVE (UIH) with a price target of $8.20 in 2011.Universal Insurance Holdings, Inc. AMEX:UVE incorporated on November 13, 1990, is a vertically integrated insurance holding company.The Company, through its subsidiaries, is engaged in insurance underwriting, distribution and claims.UPCIC generates revenue from the collection and investment of premiums. The Company’s agency operations, which include Universal Florida Insurance Agency and Coastal Homeowners Insurance Specialists, Inc., generate income from commissions.Universal Risk Advisors, Inc., the Company’s managing general agent, generates revenue through policy fee income and other administrative fees from the marketing of UPCIC’s insurance products through the Company’s distribution network.The Company’s primary product is homeowners’ insurance. The Company’s criteria for selecting insurance policies includes, but is not limited to, the use of specific policy forms, coverage amounts on buildings and contents and required compliance with local building codes.UPCIC’s portfolio as of December 31, 2009 includes approximately 531,000 policies with coverage for wind risks and 10,000 policies without wind risks.Atlas Premium Finance Company is a wholly owned subsidiary of the Company and offers premium finance services to policyholders of UPCIC.Blue Atlantic Reinsurance Corporation (BARC) is a wholly owned subsidiary of the Company and licensed as a reinsurance intermediary broker.Universal Logistics Corporation (ULC) is a wholly owned subsidiary of the Company that assists with operational duties associated with the day-to-day business of the Company.
Symbol

UVE

Exchange

AMEX

Current Price

4.82

52 Week High/ Low

6.72 – 3.98

Shares Outstanding (in mn)

39.17

Market Cap (in $ mn)

$184.86

P/E Ratio

7.30

Full Report

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ContactsCorporate ServicesEbeling Heffernan www.ebeling-heffernan.com Shayne@ebeling-heffernan.comFunds ManagementHeffernan Capital Management www.heffernan-inc.com Shayne@heffernan-inc.comShayne Heffernan of Ebeling Heffernan www.ebeling-heffernan.com prepared this report, Mr Heffernan holds a PhD in Economics serves as CEO of Heffernan Holdings www.heffernan-inc.com and oversee’s trading at Heffernan Capital Management He is also Co Founder of Ebeling Heffernan www.ebeling-heffernan.com the fastest growing Financial Services company in ASEAN.


Disclosure: I am long UVE.