Universal Insurance Holdings, Inc. (NYSE:UVE) Announces Quarterly Dividend of $0.13

Universal Insurance Holdings, Inc. (NYSE:UVE) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.13 per share by the insurance provider on Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, December 6th.

Universal Insurance has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.8 %

Shares of NYSE:UVE traded up $0.17 during mid-day trading on Thursday, reaching $21.46. The stock had a trading volume of 147,211 shares, compared to its average volume of 192,573. The firm has a 50 day simple moving average of $20.56 and a two-hundred day simple moving average of $19.84. Universal Insurance has a twelve month low of $15.63 and a twelve month high of $23.27. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $606.96 million, a PE ratio of 8.72 and a beta of 0.90.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. The business had revenue of $387.55 million for the quarter, compared to analysts’ expectations of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period in the prior year, the business posted ($0.16) earnings per share. On average, research analysts predict that Universal Insurance will post 1.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 2nd.

Insider Activity

In other news, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Jon Springer sold 35,173 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the transaction, the director now directly owns 473,899 shares of the company’s stock, valued at approximately $9,729,146.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $20.21, for a total value of $404,200.00. Following the completion of the sale, the chairman now owns 1,062,262 shares of the company’s stock, valued at $21,468,315.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,173 shares of company stock valued at $1,575,702 in the last ninety days. Insiders own 17.50% 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.