Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sells $338,337.44 in Stock

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

Universal Insurance Trading Up 0.6 %

Shares of NYSE UVE traded up $0.13 during mid-day trading on Friday, reaching $22.48. 104,672 shares of the company’s stock were exchanged, compared to its average volume of 190,795. The firm has a market capitalization of $635.96 million, a price-to-earnings ratio of 9.09 and a beta of 0.90. 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 Holdings, Inc. has a 52-week low of $15.63 and a 52-week high of $23.27. The company’s 50-day moving average is $20.67 and its 200-day moving average is $19.93.

Universal Insurance (NYSE:UVE) last announced its 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 return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. During the same period last year, the business posted ($0.16) EPS. Analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently announced 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 (DPR) is 26.02%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new position in Universal Insurance during the 3rd quarter valued at about $241,000. Jane Street Group LLC raised its position in Universal Insurance by 2,142.1% in the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after purchasing an additional 57,108 shares in the last quarter. Quarry LP raised its position in Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 776 shares in the last quarter. HighTower Advisors LLC acquired a new stake in Universal Insurance in the 3rd quarter valued at about $636,000. Finally, PDT Partners LLC acquired a new stake in Universal Insurance in the 3rd quarter valued at about $225,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.