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

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction 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 of the company's stock, valued at approximately $21,863,616. This represents a 1.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Universal Insurance Stock Performance

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

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

Remove Ads

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders 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%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. Universal Insurance's payout ratio is currently 32.16%.

Analyst Ratings Changes

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

Institutional Trading of Universal Insurance

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

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.