Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sells $394,400.00 in Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total transaction of $394,400.00. Following the completion of the sale, the chairman now owns 1,162,262 shares in the company, valued at approximately $22,919,806.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Universal Insurance Price Performance

NYSE UVE opened at $19.81 on Monday. Universal Insurance Holdings, Inc. has a 12 month low of $11.15 and a 12 month high of $22.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.53. The firm has a market capitalization of $569.74 million, a PE ratio of 7.77 and a beta of 0.84. The company’s 50 day simple moving average is $19.72 and its 200 day simple moving average is $17.54.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. The business had revenue of $375.46 million for the quarter, compared to analyst estimates of $328.12 million. As a group, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.23%. Universal Insurance’s dividend payout ratio is presently 25.10%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on UVE shares. Piper Sandler restated an “overweight” rating and issued a $25.00 price target 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 research note on Saturday. Finally, TheStreet upgraded shares of Universal Insurance from a “c+” rating to a “b” rating in a research note on Monday, February 26th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UVE. AJOVista LLC bought a new stake in Universal Insurance during the fourth quarter worth approximately $25,000. Jacobs Levy Equity Management Inc. boosted its holdings in Universal Insurance by 0.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock worth $6,081,000 after buying an additional 2,175 shares in the last quarter. Islay Capital Management LLC boosted its holdings in Universal Insurance by 7.2% during the fourth quarter. Islay Capital Management LLC now owns 58,825 shares of the insurance provider’s stock worth $940,000 after buying an additional 3,967 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Universal Insurance by 31.7% during the first quarter. BNP Paribas Financial Markets now owns 19,875 shares of the insurance provider’s stock worth $404,000 after buying an additional 4,781 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Universal Insurance by 2.4% during the fourth quarter. Russell Investments Group Ltd. now owns 226,344 shares of the insurance provider’s stock worth $3,617,000 after buying an additional 5,374 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

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.