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

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Universal Insurance Price Performance

NYSE:UVE opened at $22.15 on Friday. Universal Insurance Holdings, Inc. has a 12-month low of $16.50 and a 12-month high of $23.39. The firm has a market capitalization of $626.39 million, a price-to-earnings ratio of 9.00 and a beta of 0.91. The stock’s 50 day moving average price is $20.08 and its two-hundred day moving average price is $20.70. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million. On average, analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a dividend of $0.16 per share. This is an increase from Universal Insurance’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.89%. Universal Insurance’s payout ratio is presently 32.16%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Universal Insurance by 7.7% during the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after acquiring an additional 49,123 shares during the period. CWA Asset Management Group LLC lifted its holdings in Universal Insurance by 100.0% during the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after purchasing an additional 285,338 shares during the last quarter. Barclays PLC boosted its stake in Universal Insurance by 69.5% in the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after purchasing an additional 28,278 shares during the period. HighTower Advisors LLC bought a new position in Universal Insurance during the 3rd quarter worth $636,000. Finally, Jane Street Group LLC lifted its holdings in shares of Universal Insurance by 2,142.1% during the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock worth $1,325,000 after buying an additional 57,108 shares in the last quarter. Institutional investors and hedge funds own 66.61% 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.