So, what is your thinking on how high the stock price could go?
1) By the end of this month, the end of this calendar year, Dec 31? Could we hit $15?
2) And how about by June 30, mid year 2014--could we hit $17?
So I'm asking for two predictions, if you care to weigh in. -Scott
I have to say though UVE is making a huge run up. My only reasoning is them moving cash into fixed investments. FNHC is ready to build a lot of competition in the market place I could see them doubling in the next 12 months.
Sentiment: Strong Buy
Fabaulouspoodle you are correct it is just old management that was promoted. From what I see Meier is working things for themselves in the way of having the company buying back his stock and also paying as much as possible out in dividends. I see no growth for UVE the company is using up cash supplies and also there is problems on there policyholders side because you can see they are having problems gaining new policies.
He already had $4 million invested in the company but felt the need to invest another half million at the offering price of $10.75. Clearly believes the company is still substantially undervalued.
Sentiment: Strong Buy
New intraday high of $12.99 and volume was seven times greater than average. Both are very positive indicators for continuing price momentum going forward. -Scott
So, today, Monday, we are seeing a new intraday high, in the first half hour of tradiing. $12.99. OK, I won't express too many more doubts about FNHC. It seems that there are lots of new buyers in this market. And with lots more shares to sell, I am becoming more hopeful about the stock price. So what's a conservative prediction on the 2014 high? Is $15 too low? BTW, lots of good posts by the "regulars" on this board. -Scott
btw, entering today I owned 24,000 shares of UVE bought. I posted several times on the UVE board earlier in the year saying UVE was an excellent risk reward....at that time UVE was trading in the low $4.00's.
matsky, I'm not making anything up. Just saying the 'new' management is old management that was promoted. They werent brought from the outside to clean things up, rather longtime company execs who worked under the Meier father and son team while funkiness was going on.
from a recent 8k regarding Mr. Downes, the new CEO, has been at UVE since 1999, the majority of his working life:
Mr. Downes, age 43, has been the Company’s Senior Vice President, Chief Operating Officer and a director since January 2005, and Chief Operating Officer and a director of Universal Property & Casualty Insurance Company, a wholly owned subsidiary of the Company, since July 2003. Mr. Downes was Chief Operating Officer of Universal Adjusting Corporation, a wholly owned subsidiary of the Company, from July 1999 to July 2003. During that time Mr. Downes created the Company’s claims operation. Before joining the Company in July 1999, Mr. Downes was Vice President of Downes and Associates, a multi-line insurance claims adjustment corporation.
fabulouspoodle-to my knowledge they have NEW mgt. so what you are talking about might NOT apply anymore!!! you stated PAST WHICH MEANS PAST so don't apply it unless you have info. on NEW mgt.! these guys so far seem to be moving in all the right directions! i've followed numerous cos. & MGT. IS THE KEY to turning a company around! you better take a look at one of my other cos. - namely YAHOO! do you know of a company that had 5 ceo's in 5 years? do you know of a company that none of the 5 leaders could move the stock whatsoever? do you know of a lady named marrisa? do you know of a company that went from 16 to 36 with a leader named marrisa? check out yahoo!
I said a couple of weeks ago that it would trigger the index funds to begin buying as they rebalanced and would set the bottom at $12.00! You are beginning ti see this as we are now crossing the 100 million mark.
Great job on the secondary let's get to $15 in the very near term!
Congrats on the timing of your purchase!
I've actually posted many positive things about UVE on that board (I've owned it for a while)....and if you research it you'll find posts from earlier this year saying it was a good time to buy b/c of the management changes, moving investment management out of house, kicking out the Meir's, buying back huge chunks of Meier stock....etc..
Thanks fabulous... the more you write, the more I respect your opinions. Yahoo boards are filled with all kinds of self-promoters and those generally sharing their ignorance or anger or whatever. I didn't know that you were personally a holder of UVE, and that in itself, lets me know you are not just a basher or self-promoter of some kind. As I wrote, I am content to hold FNHC for a while longer, seeing what the next quarter brings, and the number of new policies written. And what they did or plan to do with the new money they are now raising. It's often not about "dilution" but money makes money...and a better return, ultimately, for us shareholders. Thanks for your comments. -Scott
scott, UVE got rid of the two Meier's, both father and son. And that's definitely good. But no new people were hired from outside, they were all promoted from inside. If I recall correctly, the new CEO was the chief underwriter for UVE while the funky stuff was going on. Again, I own UVE, but at this level, consider it higher risk. His (and all the new exec's) salaries are still super high, with tons of options. I do wish you luck with it, and myself as well.
As for FNHC, they made it clear that they were going to raise cash a while ago (they filed their stock registration statement on 9/20), and tha'ts what provided that great buying opportunity when the stock dropped to the low eights in September).. On 11/8 they filed saying it would be a stock offering and would price in a few weeks. So they certainly gave all their investors full disclosure of their plans, and gave any investor ample time to sell (anyone could have sold around $12/share) should they want out.
Hi fabulous.... correct me if I am wrong, but a whole new team of management was put in place at UVE back in the spring of 2013, CEO, CFO, COO. It sounds like a very strong and experienced team. Thus, any shady practices or over aberage rate increases, I believe, are clearly in the past. Reading the latest Conf Call they have been weeding out higher risk, and less profitable policies, which has reduced their policy count somewhat. But that doesn't sound like a bad reason to reduce one's policy count. I also have been bolstered by matsky's opinon on these boards and on the UVE board. Yesterday I took the plunge and will "double up" if the price is right. But, as I wrote, I am still a holder of FNHC, even with the 32% dilution in shares outstanding, as of Tuesday's supplemental offering of 2.5 million shares. -Scott
scott, have you checked into the negatives I stated about UVE.....namely their past shady practices, their over average rate increases which could lead to a rate cut near term, and their dramatic loss of market share, amongst other things?
s12, you know they announced the decision weeks ago, its not new. I think it was the correct thing to do.
UVE, a Florida Insurer, did a stock offering, what, like a year ago, at around $3.80 and the stock is now $8.20.
HCI, a Florida Insurer, did a stock offering I believe less than two years ago at around $10/share, the stock is now $47.
UIHC, a Florida Insurer, did a stock offering about one year ago at around $5.00/share, share price is now over $10.00.
FNHC is growing faster than UVE, HCI, and UIHC now, and at the time of their cash raises. FNHC obviously needed the money to fund growth. All the other Florida insurers did equity offering in the low interest rate environment, so it was pretty obvious that FNHC would follow.
Very disappointed in this decision. With the stock so severely undervalued we get less than optimal value for selling stock. And now there are 30% more shares outstanding for $24million. Totally not worth it.
Especially with interest rates so low, debt would've been a far better choice.
Hmmm....well, there goes the $12 base price, at least for the next few months, I think. Now if we can only hold $11. All the more reason to potentially consider UVE, with a divvy about 4 times that of FNHC, wiht a better past PE, and Return on Equity. And whereas Stock Scouter of MSN gives FNHC an average rating of 5 out of 10 (10 being the best), they give UVE one notch better....a 6 out of 10. But don't get me wrong, I plan on continuing to hold FNHC, at least through the next quarter's report. They better show a big increase in policy and lots of plans for the new stock offering.....else, I will probably take my profits. -Scott