Universal Insurance Holdings Inc (UVE) to Issue Quarterly Dividend of $0.16 on March 13th

Universal Insurance Holdings Inc (NYSE:UVE) announced a quarterly dividend on Wednesday, February 4th. Stockholders of record on Friday, March 6th will be paid a dividend of 0.16 per share by the insurance provider on Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, March 6th.

Universal Insurance has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Universal Insurance to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 24.2%.

Universal Insurance Stock Performance

NYSE:UVE opened at $35.92 on Wednesday. The firm’s 50 day moving average is $31.57 and its two-hundred day moving average is $30.16. The company has a market cap of $1.01 billion, a P/E ratio of 5.69 and a beta of 0.67. Universal Insurance has a fifty-two week low of $20.32 and a fifty-two week high of $36.68. The company has a quick ratio of 0.55, a current ratio of 0.52 and a debt-to-equity ratio of 0.18.

Universal Insurance (NYSE:UVE) last posted its earnings results on Tuesday, February 24th. The insurance provider reported $2.17 EPS for the quarter, beating the consensus estimate of $1.30 by $0.87. The firm had revenue of $403.57 million for the quarter, compared to analysts’ expectations of $372.99 million. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%. Analysts expect that Universal Insurance will post 1.66 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UVE shares. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Piper Sandler upped their target price on shares of Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, December 22nd. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Wall Street Zen raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $40.00.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.