Insider Selling: Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sells 25,000 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Chairman Sean P. Downes sold 25,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $26.91, for a total value of $672,750.00. Following the completion of the transaction, the chairman now owns 926,667 shares of the company's stock, valued at approximately $24,936,608.97. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Universal Insurance Stock Performance

UVE stock traded down $0.65 during midday trading on Friday, reaching $26.39. The company had a trading volume of 181,795 shares, compared to its average volume of 190,047. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $25.20 and a 200 day moving average price of $22.43. Universal Insurance Holdings, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $28.49. The firm has a market capitalization of $742.75 million, a PE ratio of 10.73 and a beta of 0.87.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.32. The business had revenue of $394.87 million during the quarter, compared to the consensus estimate of $354.97 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. Analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.43%. Universal Insurance's payout ratio is 27.95%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UVE. American Century Companies Inc. increased its holdings in shares of Universal Insurance by 10.4% in the fourth quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock valued at $12,823,000 after buying an additional 57,424 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Universal Insurance by 60.9% in the fourth quarter. Deutsche Bank AG now owns 21,162 shares of the insurance provider's stock valued at $446,000 after buying an additional 8,006 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Universal Insurance in the fourth quarter valued at $594,000. Bank of America Corp DE increased its holdings in shares of Universal Insurance by 10.9% in the fourth quarter. Bank of America Corp DE now owns 103,344 shares of the insurance provider's stock valued at $2,176,000 after buying an additional 10,131 shares in the last quarter. Finally, Man Group plc increased its holdings in shares of Universal Insurance by 31.3% in the fourth quarter. Man Group plc now owns 71,313 shares of the insurance provider's stock valued at $1,502,000 after buying an additional 17,020 shares in the last quarter. 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.