Universal Insurance Holdings Inc (NYSE:UVE) Shareholders to Get $0.13 Dividend

Universal Insurance Holdings Inc (NYSE:UVE) declared a dividend on Thursday, November 5th. Shareholders of record on Friday, December 4th will be paid a dividend of $0.13 per share by the insurance provider on Friday, December 11th. The ex-dividend date of this dividend is Friday, December 4th.

Universal Insurance has a payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Universal Insurance to earn $5.30 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 12.1%.

Universal Insurance Price Performance

Universal Insurance stock opened at $47.47 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 0.56. Universal Insurance has a 52 week low of $28.32 and a 52 week high of $50.75. The business’s fifty day moving average is $45.22 and its two-hundred day moving average is $39.17. The firm has a market cap of $1.31 billion, a P/E ratio of 5.93 and a beta of 0.63.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, October 22nd. The insurance provider reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.36. The firm had revenue of $444.31 million during the quarter, compared to the consensus estimate of $601.67 million. Universal Insurance had a net margin of 13.94% and a return on equity of 38.15%. Equities research analysts forecast that Universal Insurance will post 6.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

UVE has been the subject of a number of research reports. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 22nd. Weiss Ratings raised shares of Universal Insurance from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Piper Sandler upped their price objective on shares of Universal Insurance from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $51.00.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is an insurance holding company that provides property and casualty insurance through its subsidiaries. Its primary business is personal residential insurance, with products designed to protect homeowners and other residential property owners against risks such as wind, fire, theft and other covered losses.

The company’s offerings include homeowners, condominium unit owners, renters and dwelling fire insurance, along with related residential property coverage.