Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes Sells 20,000 Shares

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now owns 990,200 shares in the company, valued at approximately $21,863,616. The trade was a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Universal Insurance Stock Performance

UVE stock opened at $22.15 on Friday. The firm has a market cap of $626.39 million, a price-to-earnings ratio of 9.00 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. The firm has a 50-day simple moving average of $20.08 and a two-hundred day simple moving average of $20.70. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $23.39.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.09 by $0.16. The firm had revenue of $384.81 million during the quarter, compared to analyst estimates of $349.91 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. On average, equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be given a $0.16 dividend. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. This represents a $0.64 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, March 7th. Universal Insurance’s dividend payout ratio (DPR) is presently 32.16%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Monday, February 24th.

Hedge Funds Weigh In On Universal Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC increased its holdings in Universal Insurance by 100.0% in the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after buying an additional 285,338 shares during the period. Donald Smith & CO. Inc. increased its holdings in Universal Insurance by 11.3% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider’s stock worth $36,234,000 after buying an additional 174,843 shares during the period. Millennium Management LLC increased its holdings in Universal Insurance by 120.6% in the 4th quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider’s stock worth $2,666,000 after buying an additional 69,205 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock worth $7,698,000 after buying an additional 63,582 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Universal Insurance by 80.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock worth $2,946,000 after buying an additional 59,290 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.

Universal Insurance Company Profile

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.