Universal Insurance Holdings, Inc. (NYSE:UVE) CEO Sean P. Downes Buys 3,000 Shares

Universal Insurance Holdings, Inc. (NYSE:UVE) CEO Sean P. Downes acquired 3,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $28.91 per share, for a total transaction of $86,730.00. Following the completion of the transaction, the chief executive officer now directly owns 1,430,733 shares in the company, valued at approximately $41,362,491.03. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of UVE opened at $28.95 on Friday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 8.37 and a beta of 1.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.57 and a current ratio of 0.57. Universal Insurance Holdings, Inc. has a 52 week low of $27.53 and a 52 week high of $50.50.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Wednesday, April 24th. The insurance provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.06. The firm had revenue of $236.59 million for the quarter. Universal Insurance had a return on equity of 25.99% and a net margin of 13.48%.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Wednesday, July 3rd will be given a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 2.21%.

A number of institutional investors and hedge funds have recently made changes to their positions in UVE. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Universal Insurance by 28.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,392 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 533 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Universal Insurance by 6.4% in the 4th quarter. Arizona State Retirement System now owns 49,501 shares of the insurance provider’s stock worth $1,877,000 after purchasing an additional 2,961 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Universal Insurance by 38.3% in the 4th quarter. Advisors Asset Management Inc. now owns 3,715 shares of the insurance provider’s stock worth $141,000 after purchasing an additional 1,028 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Universal Insurance by 49.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 7,480 shares of the insurance provider’s stock worth $284,000 after purchasing an additional 2,460 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Universal Insurance by 19.9% in the 4th quarter. Rhumbline Advisers now owns 97,786 shares of the insurance provider’s stock worth $3,708,000 after purchasing an additional 16,204 shares during the last quarter. Hedge funds and other institutional investors own 73.56% of the company’s stock.

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About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.

Further Reading: Price to Earnings Ratio (PE)

Insider Buying and Selling by Quarter for Universal Insurance (NYSE:UVE)

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