Universal Insurance (NYSE:UVE) Announces Earnings Results

Universal Insurance (NYSE:UVE) posted its earnings results on Thursday. The insurance provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03, Zacks reports. Universal Insurance had a return on equity of 22.04% and a net margin of 5.60%. The company had revenue of $380.21 million during the quarter, compared to analyst estimates of $340.09 million. During the same quarter in the prior year, the business earned $0.87 earnings per share.

Universal Insurance Stock Down 4.5 %

Shares of Universal Insurance stock traded down $0.89 during trading hours on Friday, reaching $19.10. 455,171 shares of the company were exchanged, compared to its average volume of 173,538. Universal Insurance has a 1 year low of $11.15 and a 1 year high of $22.38. The stock’s fifty day moving average is $18.99 and its 200 day moving average is $18.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.44 and a current ratio of 0.44. The firm has a market cap of $550.08 million, a PE ratio of 7.49 and a beta of 0.88.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, August 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, August 2nd. Universal Insurance’s dividend payout ratio is currently 25.10%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UVE. Piper Sandler reissued an “overweight” rating and set a $25.00 target price on shares of Universal Insurance in a research note on Monday, April 1st. StockNews.com upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total transaction of $394,400.00. Following the sale, the chairman now owns 1,162,262 shares of the company’s stock, valued at $22,919,806.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total value of $394,400.00. Following the completion of the transaction, the chairman now owns 1,162,262 shares in the company, valued at $22,919,806.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Pietrangelo sold 12,351 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $20.43, for a total transaction of $252,330.93. Following the transaction, the director now directly owns 80,074 shares of the company’s stock, valued at $1,635,911.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,351 shares of company stock valued at $1,012,931. 17.50% of the stock is currently owned by company insiders.

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.