Universal Insurance Holdings, Inc. (NYSE:UVE) Director Scott P. Callahan sold 2,600 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $30.53, for a total transaction of $79,378.00. Following the completion of the sale, the director now directly owns 8,536 shares of the company’s stock, valued at approximately $260,604.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Universal Insurance Holdings, Inc. (NYSE UVE) traded down $0.33 during midday trading on Wednesday, reaching $32.42. 161,738 shares of the company’s stock were exchanged, compared to its average volume of 286,713. Universal Insurance Holdings, Inc. has a 52 week low of $15.07 and a 52 week high of $33.20. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1,141.77, a P/E ratio of 10.87 and a beta of 1.85.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Wednesday, February 28th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date was Tuesday, February 27th. Universal Insurance’s payout ratio is 18.73%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Universal Insurance by 1.6% in the 4th quarter. BlackRock Inc. now owns 4,090,926 shares of the insurance provider’s stock valued at $111,887,000 after acquiring an additional 62,649 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Universal Insurance by 1.1% in the 3rd quarter. Allianz Asset Management GmbH now owns 904,388 shares of the insurance provider’s stock valued at $20,801,000 after acquiring an additional 9,771 shares during the last quarter. Capital Returns Management LLC acquired a new stake in Universal Insurance in the 3rd quarter valued at about $19,062,000. State Street Corp lifted its holdings in Universal Insurance by 4.6% in the 2nd quarter. State Street Corp now owns 807,769 shares of the insurance provider’s stock valued at $20,353,000 after acquiring an additional 35,363 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Universal Insurance by 6.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 450,414 shares of the insurance provider’s stock valued at $10,361,000 after acquiring an additional 25,417 shares during the last quarter. 74.34% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. ValuEngine downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. Keefe, Bruyette & Woods set a $32.00 price objective on shares of Universal Insurance and gave the stock a “buy” rating in a report on Monday, January 15th.
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About Universal Insurance
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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