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

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chairman now owns 990,200 shares of the company’s stock, valued at $21,863,616. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Universal Insurance Stock Performance

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 company has a market capitalization of $626.39 million, a price-to-earnings ratio of 9.00 and a beta of 0.91. The business’s 50-day moving average price is $20.11 and its two-hundred day moving average price is $20.73. 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 released its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.09 by $0.16. The firm had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. Equities analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued 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 is Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 2.89%. Universal Insurance’s dividend payout ratio is presently 32.16%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC boosted its stake in shares of Universal Insurance by 100.0% during the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after buying an additional 285,338 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in Universal Insurance by 11.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider’s stock worth $36,234,000 after acquiring an additional 174,843 shares in the last quarter. Millennium Management LLC boosted its position in Universal Insurance by 120.6% during the fourth quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider’s stock valued at $2,666,000 after purchasing an additional 69,205 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after purchasing an additional 63,582 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Universal Insurance by 80.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock worth $2,946,000 after purchasing an additional 59,290 shares during the last quarter. Institutional investors own 66.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.