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

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Universal Insurance Trading Down 2.5 %

Shares of UVE opened at $21.89 on Friday. Universal Insurance Holdings, Inc. has a twelve month low of $12.86 and a twelve month high of $23.27. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $623.43 million, a P/E ratio of 8.58 and a beta of 0.89. The firm’s 50-day moving average is $20.31 and its two-hundred day moving average is $19.71.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. The business had revenue of $380.21 million for the quarter, compared to analysts’ expectations of $340.09 million. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. During the same quarter in the prior year, the firm posted $0.87 EPS. On average, research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, August 2nd. Universal Insurance’s dividend payout ratio is currently 25.10%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th.

Institutional Investors Weigh In On Universal Insurance

Several institutional investors and hedge funds have recently made changes to their positions in UVE. Quarry LP lifted its stake in Universal Insurance by 424.4% in the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after buying an additional 1,129 shares in the last quarter. Occidental Asset Management LLC purchased a new stake in Universal Insurance during the 2nd quarter worth about $196,000. SG Americas Securities LLC raised its stake in Universal Insurance by 17.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,833 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Universal Insurance in the 1st quarter valued at about $289,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Universal Insurance during the 4th quarter worth about $296,000. 66.61% of the stock is currently 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.