Universal Insurance Holdings Inc (UVE) To Go Ex-Dividend on November 24th
Universal Insurance Holdings Inc (NYSE:UVE) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Shareholders of record on Monday, November 27th will be paid a dividend of 0.14 per share by the insurance provider on Monday, December 4th. This represents a $0.56 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, November 24th.
Universal Insurance Holdings has increased its dividend by an average of 20.5% per year over the last three years and has increased its dividend annually for the last 3 consecutive years.
Shares of Universal Insurance Holdings (NYSE UVE) opened at $25.95 on Friday. The company has a market cap of $893.80, a PE ratio of 11.09 and a beta of 1.85. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.77 and a quick ratio of 0.77. Universal Insurance Holdings has a 12-month low of $15.07 and a 12-month high of $29.20.
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Universal Insurance Holdings announced that its board has initiated a stock repurchase plan on Wednesday, November 8th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently issued reports on UVE. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $29.00 price target on shares of Universal Insurance Holdings in a research report on Friday, August 18th. BidaskClub lowered shares of Universal Insurance Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, ValuEngine raised shares of Universal Insurance Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 6th.
Universal Insurance Holdings Company Profile
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).
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