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

Universal Insurance Holdings, Inc. (NYSE:UVE) 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 value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Universal Insurance Stock Performance

NYSE:UVE opened at $22.15 on Friday. 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 firm has a 50-day moving average of $20.08 and a two-hundred day moving average of $20.70. The stock has a market cap of $626.39 million, a P/E ratio of 9.00 and a beta of 0.91. Universal Insurance Holdings, Inc. has a 1-year low of $16.50 and a 1-year high of $23.39.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $384.81 million during the quarter, compared to analysts’ expectations of $349.91 million. On average, research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be given a dividend of $0.16 per share. This is a boost from Universal Insurance’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.89%. Universal Insurance’s dividend payout ratio (DPR) is presently 32.16%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Monday, February 24th.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in Universal Insurance by 7.7% in the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after acquiring an additional 49,123 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after acquiring an additional 285,338 shares during the last quarter. Barclays PLC increased its stake in shares of Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after purchasing an additional 28,278 shares during the period. HighTower Advisors LLC bought a new stake in shares of Universal Insurance during the third quarter valued at approximately $636,000. Finally, Jane Street Group LLC boosted its position in shares of Universal Insurance by 2,142.1% during the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock worth $1,325,000 after buying an additional 57,108 shares during the period. Institutional investors own 66.61% of the company’s stock.

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.