Jon Springer Sells 25,000 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE) Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Director Jon Springer sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the transaction, the director now directly owns 383,228 shares in the company, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Universal Insurance Trading Up 0.2 %

Shares of UVE stock opened at $20.64 on Friday. The business’s fifty day moving average is $21.25 and its 200 day moving average is $20.30. Universal Insurance Holdings, Inc. has a 52-week low of $15.78 and a 52-week high of $23.39. The company has a market capitalization of $583.82 million, a PE ratio of 8.39 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $387.55 million for the quarter, compared to analysts’ expectations of $341.98 million. During the same period last year, the business earned ($0.16) earnings per share. On average, equities research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, December 6th. Universal Insurance’s dividend payout ratio (DPR) is currently 26.02%.

Institutional Investors Weigh In On Universal Insurance

A number of large investors have recently made changes to their positions in UVE. Quarry LP lifted its stake in Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 1,129 shares during the period. Covestor Ltd raised its holdings in Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 1,328 shares in the last quarter. CWM LLC lifted its position in shares of Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 723 shares during the period. Aigen Investment Management LP bought a new stake in shares of Universal Insurance during the 3rd quarter valued at about $202,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Universal Insurance during the third quarter valued at about $206,000. 66.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

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.