Insider Selling: Universal Insurance Holdings, Inc. (NYSE:UVE) Director Sells 30,000 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Director Jon Springer sold 30,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $27.06, for a total transaction of $811,800.00. Following the transaction, the director now directly owns 301,835 shares of the company's stock, valued at $8,167,655.10. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jon Springer also recently made the following trade(s):

• On Tuesday, May 6th, Jon Springer sold 26,393 shares of Universal Insurance stock. The stock was sold at an average price of $25.61, for a total value of $675,924.73.

Universal Insurance Price Performance

Universal Insurance stock traded down $0.60 during trading hours on Tuesday, hitting $27.69. 135,147 shares of the stock were exchanged, compared to its average volume of 191,590. Universal Insurance Holdings, Inc. has a 12 month low of $16.50 and a 12 month high of $28.49. The business's 50-day moving average is $24.46 and its two-hundred day moving average is $22.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $779.34 million, a P/E ratio of 11.26 and a beta of 0.83.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.32. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $394.87 million for the quarter, compared to analyst estimates of $354.97 million. Equities research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.31%. Universal Insurance's dividend payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th.

Institutional Investors Weigh In On Universal Insurance

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in shares of Universal Insurance by 171.5% during the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock worth $8,148,000 after purchasing an additional 217,184 shares in the last quarter. Donald Smith & CO. Inc. raised its position in Universal Insurance by 11.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock worth $36,234,000 after purchasing an additional 174,843 shares during the last quarter. Nuveen LLC acquired a new position in Universal Insurance during the 1st quarter worth $2,197,000. Goldman Sachs Group Inc. boosted its position in Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock valued at $19,083,000 after buying an additional 69,289 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Universal Insurance by 9.8% in the 1st quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider's stock valued at $15,847,000 after buying an additional 59,752 shares during the last quarter. Institutional investors 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.