Universal Insurance Holdings Inc (NYSE:UVE) Announces $0.16 Quarterly Dividend

Universal Insurance Holdings Inc (NYSE:UVE) declared a quarterly dividend on Wednesday, July 8th. Investors of record on Friday, July 31st will be paid a dividend of 0.16 per share by the insurance provider on Friday, August 7th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, July 31st.

Universal Insurance has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Universal Insurance to earn $4.70 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 13.6%.

Universal Insurance Trading Down 1.1%

Shares of NYSE UVE opened at $41.72 on Thursday. Universal Insurance has a 1 year low of $21.96 and a 1 year high of $43.96. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a 50-day moving average of $39.17 and a 200 day moving average of $35.13. The stock has a market cap of $1.16 billion, a P/E ratio of 6.18 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. The business had revenue of $398.16 million for the quarter, compared to analysts’ expectations of $481.09 million. As a group, sell-side analysts expect that Universal Insurance will post 4.63 EPS for the current fiscal year.

About Universal Insurance

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.