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

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the sale, the chairman now owns 990,200 shares in the company, valued at $21,863,616. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Universal Insurance Trading Down 2.4 %

Shares of Universal Insurance stock traded down $0.53 during trading hours on Tuesday, hitting $21.73. The company's stock had a trading volume of 82,054 shares, compared to its average volume of 140,532. The company has a market capitalization of $614.68 million, a PE ratio of 8.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50 day moving average of $20.14 and a 200 day moving average of $20.75. Universal Insurance Holdings, Inc. has a 12 month low of $16.50 and a 12 month high of $23.39.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $384.81 million during the quarter, compared to analysts' expectations of $349.91 million. Analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Remove Ads

Universal Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 7th. Universal Insurance's dividend payout ratio (DPR) is presently 32.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Tuesday.

Institutional Investors Weigh In On Universal Insurance

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd raised its stake in shares of Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 1,328 shares during the period. Quarry LP grew its holdings in shares of Universal Insurance by 55.6% during the third quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after buying an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Universal Insurance in the 4th quarter valued at approximately $103,000. Quantbot Technologies LP lifted its stake in Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after acquiring an additional 5,058 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in Universal Insurance during the 4th quarter worth approximately $118,000. 66.61% of the stock is owned by institutional investors.

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.