Universal Insurance Holdings Inc (NYSE:UVE) Announces Dividend of $0.13

Universal Insurance Holdings Inc (NYSE:UVE) declared a dividend on Thursday, November 5th. Shareholders of record on Friday, December 4th will be given a dividend of $0.13 per share by the insurance provider on Friday, December 11th. The ex-dividend date is Friday, December 4th.

Universal Insurance has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Universal Insurance to earn $5.30 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 12.1%.

Universal Insurance Stock Down 3.1%

Shares of NYSE UVE opened at $47.27 on Friday. Universal Insurance has a 1 year low of $28.32 and a 1 year high of $50.75. The firm’s 50-day moving average is $45.22 and its 200-day moving average is $39.17. The company has a current ratio of 0.56, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.31 billion, a PE ratio of 5.91 and a beta of 0.63.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, October 22nd. The insurance provider reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.36. Universal Insurance had a net margin of 13.94% and a return on equity of 38.15%. The business had revenue of $444.31 million during the quarter, compared to the consensus estimate of $601.67 million. Equities analysts expect that Universal Insurance will post 6.13 EPS for the current year.

Universal Insurance declared that its Board of Directors has initiated a share repurchase plan on Thursday, October 29th that allows the company to buy back $20 million in shares. This repurchase authorization allows the insurance provider to buy up to 1.6% of its shares through open market purchases. Share repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

The company’s offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.