Michael Pietrangelo Sells 12,351 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE) Stock

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Director Michael Pietrangelo sold 12,351 shares of Universal Insurance stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $20.43, for a total transaction of $252,330.93. Following the transaction, the director now directly owns 80,074 shares in the company, valued at $1,635,911.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Universal Insurance Stock Up 0.6 %

Shares of UVE traded up $0.12 during mid-day trading on Monday, reaching $20.69. 222,826 shares of the stock traded hands, compared to its average volume of 186,145. The firm has a market cap of $595.87 million, a price-to-earnings ratio of 8.11 and a beta of 0.84. The stock has a fifty day simple moving average of $19.72 and a 200 day simple moving average of $17.77. Universal Insurance Holdings, Inc. has a 12-month low of $11.15 and a 12-month high of $22.38. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.28.

Universal Insurance (NYSE:UVE - Get Free Report) last posted 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. The company had revenue of $375.46 million for the quarter, compared to analyst estimates of $328.12 million. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. Sell-side analysts expect that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $0.16 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.09%. Universal Insurance's dividend payout ratio (DPR) is presently 25.10%.

Wall Street Analyst Weigh In

UVE has been the topic of a number of recent research reports. TheStreet raised shares of Universal Insurance from a "c+" rating to a "b" rating in a research report on Monday, February 26th. StockNews.com raised shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 4th. Finally, Piper Sandler reiterated an "overweight" rating and set a $25.00 price objective on shares of Universal Insurance in a research note on Monday, April 1st.

Institutional Trading of Universal Insurance

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AJOVista LLC acquired a new position in Universal Insurance in the fourth quarter worth $25,000. Versor Investments LP acquired a new position in Universal Insurance in the third quarter worth $140,000. Tompkins Financial Corp acquired a new position in Universal Insurance in the third quarter worth $153,000. Laurion Capital Management LP acquired a new position in Universal Insurance in the third quarter worth $154,000. Finally, Olympiad Research LP acquired a new position in Universal Insurance in the third quarter worth $174,000. Institutional investors own 66.61% of the company's stock.

About Universal Insurance

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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