Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes Sells 15,064 Shares

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 15,064 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $22.46, for a total transaction of $338,337.44. Following the transaction, the chairman now owns 1,047,198 shares of the company’s stock, valued at approximately $23,520,067.08. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Universal Insurance Stock Up 0.5 %

UVE opened at $22.47 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. Universal Insurance Holdings, Inc. has a 12 month low of $15.63 and a 12 month high of $23.27. The stock has a market capitalization of $635.68 million, a P/E ratio of 9.13 and a beta of 0.90. The business has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $19.95.

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, topping the consensus estimate of ($1.03) by $0.30. The firm had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same quarter in the prior year, the business posted ($0.16) earnings per share. On average, equities analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, December 6th. Universal Insurance’s dividend payout ratio is currently 26.02%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UVE. Boston Partners acquired a new stake in shares of Universal Insurance during the 1st quarter valued at approximately $758,000. Vanguard Group Inc. boosted its position in Universal Insurance by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after purchasing an additional 41,425 shares in the last quarter. Cornercap Investment Counsel Inc. grew its holdings in Universal Insurance by 90.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 56,502 shares of the insurance provider’s stock valued at $1,060,000 after purchasing an additional 26,873 shares during the last quarter. Highland Capital Management LLC increased its position in shares of Universal Insurance by 135.1% in the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after buying an additional 43,718 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Universal Insurance in the second quarter valued at $783,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

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.