Universal Insurance Holdings, Inc. (NYSE:UVE) Plans Quarterly Dividend of $0.16

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.16 per share by the insurance provider on Friday, March 14th. This represents a $0.64 annualized dividend and a dividend yield of 3.21%. 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 has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Universal Insurance to earn $2.65 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 24.2%.

Universal Insurance Stock Performance

Shares of UVE stock traded down $0.03 during trading on Monday, reaching $19.92. 146,357 shares of the company's stock traded hands, compared to its average volume of 121,983. The firm's 50-day moving average is $20.34 and its 200 day moving average is $20.60. The company has a market capitalization of $563.57 million, a P/E ratio of 8.10 and a beta of 0.91. Universal Insurance has a 1 year low of $16.21 and a 1 year high of $23.39. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

Insider Activity

In related news, Chairman Sean P. Downes sold 15,064 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $22.46, for a total transaction of $338,337.44. Following the completion of the transaction, the chairman now directly owns 1,047,198 shares in the company, valued at $23,520,067.08. The trade was a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Springer sold 25,000 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares in the company, valued at approximately $7,905,993.64. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 90,064 shares of company stock worth $1,879,587 over the last ninety days. Company insiders own 17.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, February 4th.

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.