Universal Insurance Holdings, Inc. (NYSE:UVE) to Issue Quarterly Dividend of $0.16

Universal Insurance Holdings, Inc. (NYSE:UVE) announced a quarterly dividend on Monday, April 14th, RTT News reports. Stockholders 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 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, May 9th.

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 Performance

Shares of NYSE:UVE opened at $25.62 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. Universal Insurance has a one year low of $16.50 and a one year high of $26.35. The business’s 50-day simple moving average is $22.66 and its 200 day simple moving average is $21.39. The company has a market cap of $721.07 million, a P/E ratio of 10.41 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.32. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $394.87 million during the quarter, compared to the consensus estimate of $354.97 million. On average, sell-side analysts forecast that Universal Insurance will post 1.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 28th.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, February 28th. The shares were sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the sale, the chairman now owns 990,200 shares in the company, valued at approximately $21,863,616. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 17.50% of the stock is currently owned by corporate insiders.

About Universal Insurance

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.