2024-06-11 08:12:48 ET
Summary
- Universal Insurance Holdings has seen a significant increase in profitability with a return on common equity of 38.1% in Q1 2024.
- The stock reflects this performance with a premium to book value of around 33%, making it a cautious investment.
- The company has a strong presence in Florida, which poses potential risks due to changing regulations, climate change, and competition from government insurance.
- Shares are a hold with price target of $20.
Investment Thesis
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Universal Insurance Holdings: Impressive Profitability At A Premium Valuation