Insider Selling: Universal Insurance Holdings, Inc. (NYSE:UVE) Director Sells 25,000 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Director Jon Springer sold 25,000 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the transaction, the director now directly owns 383,228 shares of the company's stock, valued at $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Universal Insurance Stock Up 0.2 %

UVE traded up $0.05 during trading hours on Friday, hitting $20.64. 479,629 shares of the company's stock were exchanged, compared to its average volume of 185,297. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance Holdings, Inc. has a 1-year low of $15.78 and a 1-year high of $23.39. The stock's 50-day moving average is $21.22 and its two-hundred day moving average is $20.29. The stock has a market cap of $583.82 million, a price-to-earnings ratio of 8.39 and a beta of 0.92.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, topping analysts' consensus estimates of ($1.03) by $0.30. The company had revenue of $387.55 million during the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period in the prior year, the business posted ($0.16) EPS. Sell-side analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.52%. Universal Insurance's dividend payout ratio is 26.02%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Universal Insurance from a "hold" rating to a "buy" rating in a research note on Sunday, November 10th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UVE. Quarry LP grew its stake in shares of Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider's stock valued at $26,000 after buying an additional 1,129 shares in the last quarter. Covestor Ltd lifted its stake in Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock valued at $42,000 after acquiring an additional 1,328 shares during the last quarter. CWM LLC grew its position in shares of Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider's stock valued at $56,000 after acquiring an additional 723 shares during the period. Aigen Investment Management LP acquired a new position in shares of Universal Insurance during the 3rd quarter worth about $202,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Universal Insurance in the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.