Universal Insurance (UVE) Announces Quarterly Earnings Results

Universal Insurance (NYSE:UVE) posted its quarterly earnings data on Tuesday. The insurance provider reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.35, reports. Universal Insurance had a return on equity of 20.90% and a net margin of 11.55%.

Shares of Universal Insurance (NYSE UVE) traded down $0.35 on Tuesday, hitting $28.75. The company’s stock had a trading volume of 147,127 shares, compared to its average volume of 299,863. The company has a market capitalization of $1,002.30, a price-to-earnings ratio of 12.26 and a beta of 1.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.77 and a current ratio of 0.77. Universal Insurance has a 52-week low of $15.07 and a 52-week high of $30.45.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Wednesday, February 28th will be paid a $0.14 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.56 annualized dividend and a dividend yield of 1.95%. Universal Insurance’s payout ratio is presently 23.93%.

Universal Insurance announced that its Board of Directors has initiated a stock buyback plan on Wednesday, November 8th that permits the company to repurchase $20.00 million in outstanding shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In other Universal Insurance news, Director Michael Pietrangelo sold 9,969 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.27, for a total value of $261,885.63. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 10.50% of the company’s stock.

Several research analysts have weighed in on UVE shares. Keefe, Bruyette & Woods set a $32.00 price objective on Universal Insurance and gave the stock a “buy” rating in a research report on Monday, January 15th. ValuEngine cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 22nd.

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About Universal Insurance

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

Earnings History for Universal Insurance (NYSE:UVE)

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