Universal Insurance Posts $439.3M in Q3 Revenue
UVE sits 73% above its 52-week low of $28.
Summary
Universal Insurance reported third-quarter revenue of $439.3 million, up 9.6%, with EPS of $1.80 and adjusted EPS of $1.93. Net income came in at $52.5 million, and direct premiums written were $608.9 million. Book value per share stood at $23.37. The comparison point is a strong Q2, when adjusted EPS of $1.84 beat the $1.62 consensus and net income rose 68.6% to $59.2 million on a 91.6% combined ratio. The stock sits at $48.40, just under its 52-week high of $48.74, so expectations are already elevated going into this print.
At the time of this announcement, UVE was trading at $48.40 on NYSE in the Finance sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $28.00 to $48.74. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.