Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes Sells 50,000 Shares of Stock

Universal Insurance Holdings, Inc. (NYSE:UVE) Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the sale, the chairman now owns 985,320 shares in the company, valued at approximately $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Universal Insurance Price Performance

NYSE:UVE opened at $21.06 on Wednesday. Universal Insurance Holdings, Inc. has a one year low of $15.78 and a one year high of $23.39. The stock has a market cap of $595.70 million, a PE ratio of 8.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a 50 day moving average price of $21.43 and a 200 day moving average price of $20.42.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $387.55 million for the quarter, compared to analysts’ expectations of $341.98 million. During the same quarter in the previous year, the company posted ($0.16) EPS. Equities research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, December 6th. Universal Insurance’s payout ratio is presently 26.02%.

Institutional Trading of Universal Insurance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Universal Insurance by 7.7% during the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after acquiring an additional 49,123 shares during the period. American Century Companies Inc. boosted its stake in Universal Insurance by 44.5% in the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after acquiring an additional 144,647 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock worth $7,040,000 after purchasing an additional 276,700 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Universal Insurance by 22.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock worth $7,698,000 after purchasing an additional 63,582 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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 acquiring an additional 13,856 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

Universal Insurance Company Profile

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.