Universal Insurance Holdings, Inc. (NYSE:UVE) Plans $0.13 Quarterly Dividend

Universal Insurance Holdings, Inc. (NYSE:UVE) declared a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Friday, December 6th will be given a dividend of 0.13 per share by the insurance provider on Friday, December 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, December 6th.

Universal Insurance has a dividend payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. 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 Down 0.4 %

NYSE:UVE opened at $22.35 on Wednesday. Universal Insurance has a 52 week low of $15.63 and a 52 week high of $23.39. The stock’s fifty day moving average is $20.94 and its two-hundred day moving average is $20.15. The stock has a market capitalization of $632.28 million, a price-to-earnings ratio of 9.09 and a beta of 0.92. 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 (NYSE:UVE) last posted its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.30. The firm had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same quarter in the prior year, the company earned ($0.16) EPS. Research analysts anticipate that Universal Insurance will post 1.66 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the sale, the chairman now directly owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. This represents a 1.81 % 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. Over the last three months, insiders sold 55,064 shares of company stock worth $1,191,937. 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.