Universal Insurance (NYSE:UVE) Chairman Sean Downes Sells 20,000 Shares of Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $39.69, for a total transaction of $793,800.00. Following the transaction, the chairman directly owned 1,188,255 shares in the company, valued at approximately $47,161,840.95. The trade was a 1.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Universal Insurance Stock Up 1.1%

Shares of Universal Insurance stock opened at $39.62 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $34.72 and its two-hundred day simple moving average is $32.80. The company has a market cap of $1.11 billion, a P/E ratio of 5.87 and a beta of 0.69. Universal Insurance Holdings Inc has a 12-month low of $21.96 and a 12-month high of $41.96.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.61. The business had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. Research analysts anticipate that Universal Insurance Holdings Inc will post 4.75 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, May 8th. Universal Insurance’s payout ratio is presently 9.48%.

Analyst Ratings Changes

UVE has been the topic of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research report on Monday, April 20th. Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Insurance presently has a consensus rating of “Buy” and an average price target of $40.00.

Institutional Trading of Universal Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Sierra Summit Advisors LLC grew its position in shares of Universal Insurance by 0.9% in the 1st quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock worth $1,027,000 after buying an additional 282 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Universal Insurance by 1.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,526 shares of the insurance provider’s stock worth $514,000 after buying an additional 341 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Universal Insurance by 1.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock worth $965,000 after buying an additional 405 shares during the period. Susquehanna Fundamental Investments LLC grew its position in shares of Universal Insurance by 5.2% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock worth $327,000 after buying an additional 474 shares during the period. Finally, Osaic Holdings Inc. grew its position in shares of Universal Insurance by 11.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after buying an additional 534 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.

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.