Universal Insurance Holdings Inc (NYSE:UVE) to Issue $0.16 Quarterly Dividend

Universal Insurance Holdings Inc (NYSE:UVE) declared a quarterly dividend on Wednesday, February 4th. Shareholders of record on Friday, March 6th will be given a dividend of 0.16 per share by the insurance provider on Friday, March 13th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, March 6th.

Universal Insurance has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Universal Insurance to earn $2.65 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 24.2%.

Universal Insurance Stock Performance

NYSE:UVE opened at $31.41 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.55 and a current ratio of 0.55. Universal Insurance has a fifty-two week low of $19.46 and a fifty-two week high of $35.84. The firm has a market capitalization of $880.91 million, a PE ratio of 7.41 and a beta of 0.70. The stock’s fifty day moving average is $31.80 and its 200 day moving average is $29.00.

Wall Street Analyst Weigh In

UVE has been the subject of several research analyst reports. Wall Street Zen upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Piper Sandler boosted their price target on Universal Insurance from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.