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 company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the sale, the chairman now owns 990,200 shares of the company’s stock, valued at $21,863,616. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $22.15 on Friday. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $23.39. The stock has a fifty day moving average of $20.08 and a 200-day moving average of $20.70. The company has a market capitalization of $626.39 million, a PE ratio of 9.00 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 EPS 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 company had revenue of $384.81 million during the quarter, compared to the consensus estimate of $349.91 million. As a group, equities analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Universal Insurance

Hedge funds have recently modified their holdings of the stock. Covestor Ltd increased its stake in shares of Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 1,328 shares during the last quarter. Quarry LP boosted its holdings in Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Universal Insurance in the fourth quarter worth $103,000. Quantbot Technologies LP boosted its holdings in Universal Insurance by 45,981.8% in the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 5,058 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in Universal Insurance in the fourth quarter worth $118,000. 66.61% of the stock is owned by institutional investors and hedge funds.

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.