Universal Insurance Holdings, Inc. (NYSE:UVE) Announces Quarterly Dividend of $0.16

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

Universal Insurance has a payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Trading Down 0.7 %

Universal Insurance stock opened at $19.90 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $562.83 million, a PE ratio of 8.09 and a beta of 0.91. The stock’s 50 day simple moving average is $20.39 and its two-hundred day simple moving average is $20.59. Universal Insurance has a 12 month low of $15.78 and a 12 month high of $23.39.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

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.