Insider Selling: Universal Insurance (NYSE:UVE) Chairman Sells 20,000 Shares of Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $38.73, for a total transaction of $774,600.00. Following the sale, the chairman directly owned 1,168,255 shares of the company’s stock, valued at $45,246,516.15. The trade was a 1.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Universal Insurance Stock Down 0.9%

Shares of UVE stock traded down $0.36 during mid-day trading on Friday, reaching $38.67. 189,672 shares of the company were exchanged, compared to its average volume of 202,424. Universal Insurance Holdings Inc has a fifty-two week low of $21.96 and a fifty-two week high of $41.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $1.08 billion, a P/E ratio of 5.73 and a beta of 0.77. The business’s 50 day simple moving average is $35.71 and its 200 day simple moving average is $33.45.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. The business had revenue of $398.16 million during the quarter, compared to the consensus estimate of $481.09 million. Research analysts predict that Universal Insurance Holdings Inc will post 4.75 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. Universal Insurance’s dividend payout ratio (DPR) is presently 9.48%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.00.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Universal Insurance by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 2,007,725 shares of the insurance provider’s stock worth $67,861,000 after purchasing an additional 54,004 shares during the period. American Century Companies Inc. lifted its stake in Universal Insurance by 11.3% in the third quarter. American Century Companies Inc. now owns 843,059 shares of the insurance provider’s stock valued at $22,172,000 after buying an additional 85,312 shares during the last quarter. Geode Capital Management LLC lifted its stake in Universal Insurance by 19.8% in the fourth quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider’s stock valued at $27,566,000 after buying an additional 134,805 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Universal Insurance by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after buying an additional 69,289 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Universal Insurance by 212.3% in the third quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock valued at $15,685,000 after buying an additional 405,403 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.