Million

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>UVE stock price has initiated an uptrend, see the pivot levels below.</a> </li> 
 <li> <span>2</span> <a>The revenue growth has increased yearly on a YoY basis.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The current price has just made it past the 150-day EMA.</a> </li> 
</ul> 
<p>Florida-based insurance firm, Universal Insurance Holdings, Inc. (NYSE: UVE) posted its Quarter 3 earnings at the end of this October. The company’s revenue rose 15.1% year-on-year to $360 Million, driven by a 14.2% rise in the core sales.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-the-growth-in-direct-premiums-and-net-investments-strong"><strong>The Growth in Direct Premiums and Net Investments</strong></h2> 
<p>Moreover, the direct premiums written increased by 6.3% to $532 Million, mainly due to growth in other states and Florida. The net investment income rose to $12.8 Million from $6.1 Million in Quarter 3 due to higher yields on cash and fixed income. However, the adjusted operating loss margin improved to 1.3% from 27.7% YoY mainly due to a lower net combined ratio.&nbsp;</p> 
<p>Compared to the same quarter last year, the net loss ratio decreased by 26.7 points, standing at 87.0%. Additionally, the net expense ratio was 23.7%, down 1.8 points from 25.5% in the quarter last year. The decrease mainly represents a drop in the rates of commission paid to distribution partners upon renewal.</p> 
<h3 class="wp-block-heading" id="strong-the-actual-picture-strong"><strong>The Actual Picture</strong></h3> 
<p>The net combined ratio was 110.7%, down 28.5 points compared to the prior-year quarter. The decrease was due to lower net loss and expense ratios, as described above. The company’s CEO, Stephen J. Donaghy, expressed optimism for the future. He said that the third quarter benefited from strong and improved underlying trends.&nbsp;</p> 
<p>During the quarter, the company helped its customers in Florida who were affected by Hurricane Idalia. Fortunately, the storm was not as severe as expected, and the company was able to handle it within its limits without any problem. The company is more confident in the Florida market. This is its most extensive geography and has started to increase new business in additional territories slowly.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-and-prediction-of-the-uve-stock-price-strong"><strong>Technical Analysis and Prediction of the UVE Stock Price</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/g-Qjd2Xf92YIb-5KPD5VoEvPkjIzKDZXI5esDouBpFZdeL7xLFq-vjZI48Ii66SzX3lZNPbPiNHVCD3DPoUdGMRFDUYKjz0llsAfx-PAg0lIDvlW0Q2gHgiV-hMBkIC7rZyFZhbhg-2MGJbpx7bSdMR4-KtdHOKKP0DPnvfuCUr0W7rySY8QU8I6TLGGCQ" alt="UVE Stock Price: Quarter 3 Results are Here, With a Growth of 15%">
  <figcaption class="wp-element-caption">
   <a href="https://in.tradingview.com/chart/X78t0Vyp/?symbol=NASDAQ%3ANRDS">NASDAQ: UVE Stock Chart by Tradingview</a>
  </figcaption>
 </figure>
</div> 
<p>The UVE <a href="https://www.thecoinrepublic.com/2023/10/09/brokerage-houses-neutral-on-rkt-share-what-to-expect-from-stock/">stock price</a> is currently trading at $15.6, as of press time. In September, the bulls were able to reclaim the support level of $12.33. Additionally, the current earnings report has caused the price to surpass both EMAs. The price of the 50 EMA is currently at $13.9, with the 150-day EMA hovering at $14.32.</p> 
<p>The RSI is also in an uptrend, having reached its oversold level of 70. However, the stock is currently at its immediate resistance at $16.2. Therefore, it is predicted that the UVE stock price will be bearish in the short term future. Some corrections are likely to happen before the bulls can attempt a breakout.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>Universal Insurance Holdings, Inc. announced its latest quarter earnings at the end of October this year. The company has made a good&nbsp; revenue growth and also engaged in CSR activities. The current trend in the UVE stock is bullish but the prediction is bearish for a short term.</p> 
<h3 class="wp-block-heading" id="strong-technical-levels-strong"><strong>Technical Levels</strong></h3> 
<ul> 
 <li><strong>Support Levels:</strong> $12.33 and $8.61</li> 
 <li><strong>Resistance Levels: </strong>$16.24 and $19.51</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks or related indexes comes with a risk of financial loss.</p>

UVE Stock Price: Quarter 3 Results are Here, With a Growth of 15%

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Thecoinrepublic.com

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