Universal Insurance Holdings, Inc. (NYSE:UVE) Announces $0.13 Quarterly Dividend

Universal Insurance Holdings, Inc. (NYSE:UVE) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.13 per share by the insurance provider on Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, December 6th.

Universal Insurance has a dividend payout ratio of 28.2% meaning 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 Stock Performance

NYSE:UVE traded up $0.17 during trading hours on Thursday, reaching $21.46. The company had a trading volume of 147,211 shares, compared to its average volume of 192,573. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance has a 52 week low of $15.63 and a 52 week high of $23.27. The firm’s 50 day moving average price is $20.56 and its 200-day moving average price is $19.84. The firm has a market cap of $606.96 million, a price-to-earnings ratio of 8.72 and a beta of 0.90.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. During the same period in the previous year, the company earned ($0.16) EPS. On average, analysts forecast that Universal Insurance will post 1.66 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 2nd.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the completion of the transaction, the chairman now owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the sale, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,173 shares of company stock valued at $1,575,702. Corporate insiders own 17.50% 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.