Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes Sells 20,000 Shares

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total transaction of $394,400.00. Following the completion of the transaction, the chairman now owns 1,162,262 shares in the company, valued at $22,919,806.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Universal Insurance Trading Up 0.5 %

Shares of NYSE UVE opened at $19.81 on Monday. Universal Insurance Holdings, Inc. has a fifty-two week low of $11.15 and a fifty-two week high of $22.38. The firm has a market capitalization of $569.74 million, a P/E ratio of 7.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.53. The company’s 50 day simple moving average is $19.72 and its 200 day simple moving average is $17.54.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. The company had revenue of $375.46 million during the quarter, compared to analysts’ expectations of $328.12 million. On average, analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is 25.10%.

Institutional Trading of Universal Insurance

Hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC acquired a new position in Universal Insurance in the fourth quarter valued at about $25,000. Versor Investments LP bought a new stake in Universal Insurance during the 3rd quarter worth approximately $140,000. Tompkins Financial Corp acquired a new stake in Universal Insurance during the 3rd quarter worth approximately $153,000. Laurion Capital Management LP bought a new position in Universal Insurance in the third quarter valued at approximately $154,000. Finally, Olympiad Research LP acquired a new position in shares of Universal Insurance in the third quarter valued at approximately $174,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

Wall Street Analysts Forecast Growth

UVE has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Universal Insurance in a research note on Monday, April 1st. TheStreet upgraded shares of Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th. Finally, StockNews.com upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.