Insider Selling: Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sells 20,000 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Universal Insurance Trading Down 2.7 %

UVE stock opened at $21.85 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54. The company has a fifty day moving average price of $20.31 and a two-hundred day moving average price of $19.72. Universal Insurance Holdings, Inc. has a one year low of $12.86 and a one year high of $23.27. The stock has a market cap of $629.28 million, a price-to-earnings ratio of 8.57 and a beta of 0.89.

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

Universal Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.93%. Universal Insurance’s payout ratio is presently 25.10%.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors have recently modified their holdings of UVE. Bank of Montreal Can boosted its position in shares of Universal Insurance by 283.0% in the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after acquiring an additional 276,700 shares during the period. American Century Companies Inc. boosted its position in shares of Universal Insurance by 44.5% in the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after acquiring an additional 144,647 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Universal Insurance by 11,666.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock valued at $1,193,000 after acquiring an additional 58,214 shares during the period. Highland Capital Management LLC boosted its position in shares of Universal Insurance by 135.1% in the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after acquiring an additional 43,718 shares during the period. Finally, Legato Capital Management LLC bought a new stake in shares of Universal Insurance in the second quarter valued at about $789,000. Institutional investors own 66.61% of the company’s stock.

Wall Street Analyst Weigh In

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

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.