Sean Downes Sells 20,000 Shares of Universal Insurance (NYSE:UVE) Stock

Universal Insurance Holdings Inc (NYSE:UVE) Chairman Sean Downes sold 20,000 shares of the business’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 completion of the transaction, the chairman owned 1,168,255 shares of the company’s stock, valued at approximately $45,246,516.15. The trade was a 1.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Universal Insurance Price Performance

Shares of NYSE UVE opened at $38.67 on Friday. Universal Insurance Holdings Inc has a twelve month low of $21.96 and a twelve month high of $41.96. The firm has a market cap of $1.08 billion, a P/E ratio of 5.73 and a beta of 0.77. The company has a 50 day moving average of $35.75 and a 200 day moving average of $33.48. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.17.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data 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 company had revenue of $398.16 million during the quarter, compared to analyst estimates of $481.09 million. As a group, research analysts expect that Universal Insurance Holdings Inc will post 4.75 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, May 8th. This represents a $0.64 dividend on an annualized basis and a yield of 1.7%. Universal Insurance’s payout ratio is currently 9.48%.

Institutional Investors Weigh In On Universal Insurance

Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. grew its position in shares of Universal Insurance by 72.6% during the 3rd quarter. Principal Financial Group Inc. now owns 39,990 shares of the insurance provider’s stock valued at $1,052,000 after acquiring an additional 16,820 shares during the period. Allianz Asset Management GmbH grew its position in shares of Universal Insurance by 219.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 62,898 shares of the insurance provider’s stock valued at $1,654,000 after acquiring an additional 43,213 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Universal Insurance during the 4th quarter valued at $2,388,000. Pursuit Wealth Management LLC bought a new stake in shares of Universal Insurance during the 4th quarter valued at $1,745,000. Finally, American Century Companies Inc. grew its position in shares of Universal Insurance by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 843,059 shares of the insurance provider’s stock valued at $22,172,000 after acquiring an additional 85,312 shares during the period. Institutional investors own 66.61% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research upgraded shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat.com, Universal Insurance has a consensus rating of “Buy” and an average target price of $40.00.

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.