Universal Insurance Holdings Inc Plans Quarterly Dividend of $0.16 (NYSE:UVE)

Key Points

• Universal declared a quarterly dividend of $0.16 per share (annualized $0.64) payable May 15 to shareholders of record on May 8, with an ex-dividend date of May 8 and a yield of about 1.9%.
• The dividend appears well-covered, with a current payout ratio of 21.8% and analysts forecasting $2.65 EPS next year (implying a future payout ratio of ~24.2%).
• Universal beat Q results (EPS $2.17 vs. $1.30 estimate; revenue $403.6M vs. $373.0M) while the stock traded down ~2.1% to $34.48; valuation metrics include a P/E of 5.46 and market cap of about $966M.

Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) declared a quarterly dividend on Friday, April 10th. Shareholders of record on Friday, May 8th will be given a dividend of 0.16 per share by the insurance provider on Friday, May 15th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, May 8th.

Universal Insurance has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 2.1%

UVE traded down $0.75 on Friday, hitting $34.48. The company had a trading volume of 136,082 shares, compared to its average volume of 191,163. The stock has a fifty day moving average price of $33.20 and a 200-day moving average price of $31.84. Universal Insurance has a 12-month low of $21.67 and a 12-month high of $36.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a market capitalization of $965.72 million, a price-to-earnings ratio of 5.46 and a beta of 0.69.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.87. The company had revenue of $403.57 million for the quarter, compared to analyst estimates of $372.99 million. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%. Analysts predict that Universal Insurance will post 1.66 EPS for the current fiscal year.

About Universal Insurance

Universal Insurance Holdings, Inc NYSE: UVE is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.

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