Universal Insurance Holdings, Inc. (NYSE:UVE) Declares $0.16 Quarterly Dividend

Universal Insurance Holdings, Inc. (NYSE:UVE) declared a quarterly dividend on Monday, April 14th, RTT News reports. Shareholders of record on Friday, May 9th will be paid a dividend of 0.16 per share by the insurance provider on Friday, May 16th. This represents a $0.64 dividend on an annualized basis and a yield of 2.82%.

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 Up 2.8 %

Shares of Universal Insurance stock traded up $0.61 on Monday, hitting $22.66. 144,497 shares of the company’s stock traded hands, compared to its average volume of 177,572. The stock has a market cap of $636.66 million, a P/E ratio of 9.21 and a beta of 0.76. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance has a 52-week low of $16.50 and a 52-week high of $24.14. The firm’s 50-day moving average is $21.50 and its 200 day moving average is $20.93.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The firm had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million. Equities analysts anticipate that Universal Insurance will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 26th.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the transaction, the chairman now owns 990,200 shares in the company, valued at $21,863,616. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.50% of the company’s stock.

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.