Key Points
- Chairman Sean Downes sold 20,000 shares of Universal Insurance (NYSE:UVE) on Nov. 25 at an average price of $33.46 for total proceeds of $669,200, reducing his stake by 1.56% to 1,263,512 shares (≈$42.28M).
- Universal Insurance reported strong Q3 results, with EPS of $1.36 beating the $1.10 consensus and revenue of $400.03M versus $366.36M, and posted a 28.25% return on equity.
- The company declared a special dividend of $0.13 per share (record date Dec. 5, payable Dec. 12), which the article states represents a yield of 195.0%.
Universal Insurance Holdings Inc (NYSE:UVE - Get Free Report) Chairman Sean Downes sold 20,000 shares of the business's stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $33.46, for a total transaction of $669,200.00. Following the transaction, the chairman owned 1,263,512 shares in the company, valued at $42,277,111.52. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Universal Insurance Stock Down 0.7%
UVE stock opened at $33.13 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $30.53 and a two-hundred day moving average of $27.18. Universal Insurance Holdings Inc has a 12 month low of $18.72 and a 12 month high of $35.84. The company has a market cap of $929.26 million, a price-to-earnings ratio of 7.81 and a beta of 0.77.
Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.26. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%.The business had revenue of $400.03 million for the quarter, compared to analysts' expectations of $366.36 million. As a group, analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Announces Dividend
The business also recently announced a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be issued a $0.13 dividend. This represents a yield of 195.0%. The ex-dividend date is Friday, December 5th. Universal Insurance's dividend payout ratio is presently 15.09%.
Hedge Funds Weigh In On Universal Insurance
A number of hedge funds have recently modified their holdings of UVE. Jacobs Levy Equity Management Inc. raised its holdings in Universal Insurance by 12.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 371,982 shares of the insurance provider's stock valued at $9,783,000 after buying an additional 41,830 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Universal Insurance by 12.7% during the third quarter. Qube Research & Technologies Ltd now owns 131,777 shares of the insurance provider's stock valued at $3,466,000 after acquiring an additional 14,875 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Universal Insurance by 14.8% during the third quarter. Public Employees Retirement System of Ohio now owns 23,161 shares of the insurance provider's stock valued at $609,000 after acquiring an additional 2,980 shares during the last quarter. Millennium Management LLC raised its stake in shares of Universal Insurance by 212.3% in the 3rd quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider's stock valued at $15,685,000 after acquiring an additional 405,403 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Universal Insurance by 1.9% in the 3rd quarter. Bank of America Corp DE now owns 102,196 shares of the insurance provider's stock valued at $2,688,000 after acquiring an additional 1,931 shares during the period. 66.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently commented on UVE shares. Zacks Research upgraded Universal Insurance from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 21st. Weiss Ratings restated a "buy (b)" rating on shares of Universal Insurance in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Strong Buy".
Check Out Our Latest Stock Analysis on UVE
Universal Insurance Company Profile
(
Get Free Report)
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.
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