Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) Director Jon Springer sold 25,000 shares of the business's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total transaction of $515,750.00. Following the transaction, the director now owns 383,228 shares of the company's stock, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Universal Insurance Stock Up 0.2 %
UVE opened at $20.64 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The business's fifty day simple moving average is $21.22 and its 200 day simple moving average is $20.29. Universal Insurance Holdings, Inc. has a 52 week low of $15.78 and a 52 week high of $23.39. The stock has a market cap of $583.82 million, a PE ratio of 8.39 and a beta of 0.92.
Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($1.03) by $0.30. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $387.55 million for the quarter, compared to analysts' expectations of $341.98 million. During the same period last year, the firm posted ($0.16) EPS. As a group, research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Cuts Dividend
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The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, December 6th. Universal Insurance's dividend payout ratio is currently 26.02%.
Institutional Trading of Universal Insurance
Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in shares of Universal Insurance by 17.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider's stock valued at $232,000 after acquiring an additional 1,833 shares during the last quarter. Highland Capital Management LLC increased its stake in Universal Insurance by 135.1% in the 2nd quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider's stock worth $1,427,000 after purchasing an additional 43,718 shares during the period. Bank of New York Mellon Corp lifted its position in Universal Insurance by 4.8% in the second quarter. Bank of New York Mellon Corp now owns 300,379 shares of the insurance provider's stock valued at $5,635,000 after purchasing an additional 13,856 shares during the last quarter. Bailard Inc. boosted its stake in shares of Universal Insurance by 33.3% during the second quarter. Bailard Inc. now owns 16,800 shares of the insurance provider's stock valued at $315,000 after purchasing an additional 4,200 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Universal Insurance by 45.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 85,576 shares of the insurance provider's stock worth $1,605,000 after purchasing an additional 26,863 shares during the last quarter. 66.61% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com raised Universal Insurance from a "hold" rating to a "buy" rating in a report on Sunday, November 10th.
Get Our Latest Stock Report on Universal Insurance
About Universal Insurance
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Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.
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