Universal Insurance Holdings (UVE) Stock

Universal Insurance Holdings, Inc. (NYSE:UVE ) Q3 2024 Earnings Conference Call October 25, 2024 10:00 AM ET Company Participants Arash Soleimani - Chief Strategy Officer Stephen Donaghy - CEO Frank Wilcox - CFO Conference Call Participants Paul Newsome - Piper Sandler Nick Iacoviello - Dowling & Partners Operator Good morning, ladies and gentlemen, and welcome to Universal's Third Quarter 2024 Earnings Conference Call. As a reminder, this conference call is being recorded.

Universal Insurance Holdings (UVE) came out with a quarterly loss of $0.73 per share versus the Zacks Consensus Estimate of a loss of $1.03. This compares to loss of $0.16 per share a year ago.

Universal Insurance Holdings (UVE) came out with quarterly earnings of $1.18 per share, beating the Zacks Consensus Estimate of $1.15 per share. This compares to earnings of $0.87 per share a year ago.

The insurer exceeded the average analyst prediction for first-quarter profits but fell short on revenue by a significant margin.

Universal Insurance (UVE) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.

Universal Insurance jumped after announcing a new $20 million share repurchase program. Shares are up nearly 30% over the past month after the company posted a surprise profit with its fourth-quarter update.

The insurer published a fresh set of quarterly results after market hours Thursday. It had a mixed quarter, but its bottom-line beat was crushing.

Universal Insurance Holdings (UVE) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.72 per share a year ago.

Universal Insurance Holdings rated Buy today, agreeing with the bullish consensus from SA analysts and Wall Street. The bullish thesis is driven by nearly 4% dividend yield, 10-year dividend growth, expected future insurance customer growth, and earnings improvement, despite a net loss. Equity growth is healthy and their cash position too, while the share price is trading only just 7% above its moving average.