Universal Insurance Holdings, Inc. (NYSE:UVE) Announces $0.16 Quarterly Dividend

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) declared a quarterly dividend on Thursday, April 11th, Wall Street Journal reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.16 per share by the insurance provider on Friday, May 17th. This represents a $0.64 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, May 9th.

Universal Insurance has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of UVE stock traded up $0.21 on Thursday, reaching $19.19. The company's stock had a trading volume of 103,437 shares, compared to its average volume of 186,289. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.30. The stock's 50 day simple moving average is $18.90 and its 200-day simple moving average is $16.84. The company has a market capitalization of $555.93 million, a P/E ratio of 8.72 and a beta of 0.83. Universal Insurance has a 12-month low of $11.15 and a 12-month high of $21.75.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. The firm had revenue of $375.46 million for the quarter, compared to analysts' expectations of $328.12 million. As a group, equities analysts predict that Universal Insurance will post 2.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TheStreet upgraded shares of Universal Insurance from a "c+" rating to a "b" rating in a report on Monday, February 26th. StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 4th. Finally, Piper Sandler reiterated an "overweight" rating and set a $25.00 price target on shares of Universal Insurance in a research note on Monday, April 1st.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at approximately $23,267,846.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. rhino investment partners Inc acquired a new stake in Universal Insurance in the fourth quarter valued at approximately $4,929,000. Invesco Ltd. raised its stake in shares of Universal Insurance by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,173,582 shares of the insurance provider's stock valued at $15,831,000 after acquiring an additional 263,456 shares during the period. State Street Corp raised its position in Universal Insurance by 22.4% in the first quarter. State Street Corp now owns 1,201,489 shares of the insurance provider's stock valued at $16,208,000 after purchasing an additional 219,723 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Universal Insurance by 111.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 403,179 shares of the insurance provider's stock valued at $6,443,000 after buying an additional 212,738 shares during the period. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in shares of Universal Insurance during the first quarter worth about $3,389,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.