Universal Insurance Holdings, Inc. (UVE) To Go Ex-Dividend on March 7th

Universal Insurance Holdings, Inc. (NYSE:UVE) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Investors of record on Friday, March 7th will be given a dividend of 0.16 per share by the insurance provider on Friday, March 14th. This represents a $0.64 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Universal Insurance’s previous quarterly dividend of $0.13.

Universal Insurance has a payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Universal Insurance to earn $2.65 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 24.2%.

Universal Insurance Stock Performance

Shares of NYSE UVE opened at $19.90 on Friday. The firm’s fifty day moving average is $20.39 and its two-hundred day moving average is $20.59. Universal Insurance has a 52-week low of $15.78 and a 52-week high of $23.39. The company has a market cap of $562.83 million, a P/E ratio of 8.09 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Insiders Place Their Bets

In related news, Director Jon Springer sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the sale, the director now owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the completion of the transaction, the chairman now owns 985,320 shares of the company’s stock, valued at $20,208,913.20. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,064 shares of company stock worth $1,879,587 in the last three months. Corporate insiders own 17.50% of the company’s stock.

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.