Courtesy of Benzinga.
Universal Insurance Holdings, Inc. (NYSE: UVE) shares are trading lower by $3.70, or 17 percent, at $17.85 in Tuesday’s session.
This stock and others in the insurance sector are under selling pressure as the potential liabilities from Hurricane Harvey and Hurricane Irma are yet to be determined.
Its lower opening print of $20.00 has turned out to be the high for the session. The follow-through on the move lower has taken the stock to $17.58 and it’s attempting to reenter the $18.00 handle. That marks the lowest level for the stock since June 2016, when it bottomed at $17.31.
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