Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes Sells 15,064 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 15,064 shares of Universal Insurance stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $22.46, for a total transaction of $338,337.44. Following the completion of the transaction, the chairman now owns 1,047,198 shares of the company’s stock, valued at $23,520,067.08. This trade represents a 1.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Universal Insurance Stock Up 0.6 %

Shares of NYSE:UVE opened at $22.48 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market cap of $635.96 million, a P/E ratio of 9.14 and a beta of 0.90. Universal Insurance Holdings, Inc. has a 12 month low of $15.63 and a 12 month high of $23.27. The company’s 50-day moving average price is $20.70 and its two-hundred day moving average price is $19.95.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $387.55 million for the quarter, compared to analysts’ expectations of $341.98 million. During the same period in the prior year, the firm earned ($0.16) earnings per share. As a group, research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.31%. Universal Insurance’s payout ratio is currently 26.02%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th.

Hedge Funds Weigh In On Universal Insurance

Hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its position in Universal Insurance by 2.1% during the 1st quarter. Donald Smith & CO. Inc. now owns 1,737,233 shares of the insurance provider’s stock valued at $35,301,000 after purchasing an additional 35,045 shares during the period. Vanguard Group Inc. lifted its holdings in Universal Insurance by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock valued at $31,384,000 after buying an additional 41,425 shares during the period. Geode Capital Management LLC boosted its stake in Universal Insurance by 7.7% in the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock valued at $15,289,000 after acquiring an additional 49,123 shares during the last quarter. American Century Companies Inc. grew its holdings in Universal Insurance by 44.5% during the 2nd quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock worth $8,814,000 after acquiring an additional 144,647 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Universal Insurance by 283.0% during the 2nd 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 last quarter. Institutional investors own 66.61% of the company’s stock.

About Universal Insurance

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.