Universal Insurance Holdings Inc (UVE) To Go Ex-Dividend on December 4th

Universal Insurance Holdings Inc (NYSE:UVE) declared a dividend on Thursday, November 5th. Investors of record on Friday, December 4th will be paid a dividend of $0.13 per share by the insurance provider on Friday, December 11th. The ex-dividend date is Friday, December 4th.

Universal Insurance has a payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Universal Insurance to earn $5.30 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 12.1%.

Universal Insurance Stock Down 1.6%

Shares of NYSE:UVE opened at $46.65 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of 5.83 and a beta of 0.63. Universal Insurance has a 12 month low of $28.32 and a 12 month high of $50.75. The company’s 50-day moving average price is $45.28 and its two-hundred day moving average price is $39.26. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 0.15.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, October 22nd. The insurance provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.36. Universal Insurance had a return on equity of 38.15% and a net margin of 13.94%. The firm had revenue of $444.31 million during the quarter, compared to analyst estimates of $601.67 million. As a group, research analysts forecast that Universal Insurance will post 6.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Universal Insurance news, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $48.77, for a total transaction of $1,219,250.00. Following the completion of the transaction, the director owned 225,734 shares of the company’s stock, valued at $11,009,047.18. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sean Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $48.23, for a total transaction of $964,600.00. Following the completion of the transaction, the chairman directly owned 1,064,645 shares of the company’s stock, valued at $51,347,828.35. This trade represents a 1.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 81,380 shares of company stock worth $3,865,415. 15.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors have recently added to or reduced their stakes in UVE. Signaturefd LLC increased its stake in shares of Universal Insurance by 83.7% in the third quarter. Signaturefd LLC now owns 599 shares of the insurance provider’s stock valued at $25,000 after buying an additional 273 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Universal Insurance during the third quarter valued at approximately $44,000. Parallel Advisors LLC lifted its stake in Universal Insurance by 4,847.3% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 2,666 shares in the last quarter. Archer Investment Corp bought a new position in shares of Universal Insurance in the 1st quarter worth $95,000. Finally, Root Financial Partners LLC purchased a new stake in Universal Insurance in the 3rd quarter worth $145,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

The company’s offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.