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

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $19.72, for a total value of $394,400.00. Following the completion of the transaction, the chairman now directly owns 1,162,262 shares in the company, valued at approximately $22,919,806.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Universal Insurance Stock Up 0.5 %

Shares of Universal Insurance stock traded up $0.09 during trading on Friday, reaching $19.81. The stock had a trading volume of 163,183 shares, compared to its average volume of 187,906. The company has a current ratio of 0.44, a quick ratio of 0.53 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $569.72 million, a price-to-earnings ratio of 7.74 and a beta of 0.84. Universal Insurance Holdings, Inc. has a 52 week low of $11.15 and a 52 week high of $22.38. The stock has a fifty day moving average price of $19.75 and a two-hundred day moving average price of $17.46.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.20. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. The company had revenue of $375.46 million during the quarter, compared to analysts' expectations of $328.12 million. Sell-side analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on UVE shares. Piper Sandler reissued an "overweight" rating and set a $25.00 price objective on shares of Universal Insurance in a research note on Monday, April 1st. TheStreet raised Universal Insurance from a "c+" rating to a "b" rating in a research note on Monday, February 26th. Finally, StockNews.com downgraded Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Friday, April 26th.

Institutional Trading of Universal Insurance

Institutional investors and hedge funds have recently bought and sold shares of the stock. Donald Smith & CO. Inc. boosted its stake in shares of Universal Insurance by 31.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider's stock worth $27,201,000 after acquiring an additional 404,446 shares during the period. CWA Asset Management Group LLC bought a new stake in Universal Insurance during the 3rd quarter worth $7,935,000. Jacobs Levy Equity Management Inc. raised its position in Universal Insurance by 0.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider's stock valued at $6,081,000 after purchasing an additional 2,175 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of Universal Insurance during the fourth quarter valued at about $6,387,000. Finally, Acadian Asset Management LLC grew its holdings in Universal Insurance by 250.2% during the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider's stock worth $4,765,000 after acquiring an additional 242,895 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.

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