Insider Selling: Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sells 15,064 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 15,064 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $22.46, for a total value of $338,337.44. Following the sale, the chairman now directly owns 1,047,198 shares in the company, valued at approximately $23,520,067.08. The trade was a 1.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Universal Insurance Stock Up 0.6 %

NYSE UVE traded up $0.13 during trading on Friday, hitting $22.48. The company’s stock had a trading volume of 104,672 shares, compared to its average volume of 190,795. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $635.96 million, a PE ratio of 9.09 and a beta of 0.90. The business’s 50 day simple moving average is $20.67 and its 200-day simple moving average is $19.93. Universal Insurance Holdings, Inc. has a fifty-two week low of $15.63 and a fifty-two week high of $23.27.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.30. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The firm had revenue of $387.55 million during the quarter, compared to the consensus estimate of $341.98 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. On average, equities analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, December 6th. Universal Insurance’s payout ratio is presently 26.02%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Universal Insurance

Several hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new stake in Universal Insurance in the 3rd quarter worth approximately $241,000. Jane Street Group LLC raised its stake in shares of Universal Insurance by 2,142.1% during the 3rd 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 during the period. Quarry LP raised its stake in shares of Universal Insurance by 55.6% during the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock worth $48,000 after buying an additional 776 shares during the period. HighTower Advisors LLC acquired a new position in shares of Universal Insurance during the 3rd quarter worth approximately $636,000. Finally, PDT Partners LLC acquired a new position in shares of Universal Insurance during the 3rd quarter worth approximately $225,000. Hedge funds and other institutional investors 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.