Universal Insurance Holdings Inc (NYSE:UVE) to Issue Quarterly Dividend of $0.16
by Tristan Rich · The Markets DailyUniversal Insurance Holdings Inc (NYSE:UVE – Get Free Report) declared a quarterly dividend on Friday, April 10th. Investors of record on Friday, May 8th will be given a dividend of 0.16 per share by the insurance provider on Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, May 8th.
Universal Insurance has a dividend payout ratio of 21.8% meaning 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 Price Performance
Shares of UVE traded down $0.75 during mid-day trading on Friday, hitting $34.48. 136,082 shares of the company were exchanged, compared to its average volume of 191,163. Universal Insurance has a 1-year low of $21.67 and a 1-year high of $36.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50 day moving average of $33.20 and a 200-day moving average of $31.84. The stock has a market cap of $965.72 million, a price-to-earnings ratio of 5.46 and a beta of 0.69.
Universal Insurance (NYSE:UVE – Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.87. Universal Insurance had a net margin of 11.41% and a return on equity of 37.28%. The firm had revenue of $403.57 million during the quarter, compared to the consensus estimate of $372.99 million. Analysts expect that Universal Insurance will post 1.66 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on UVE shares. Wall Street Zen upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Zacks Research upgraded shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Finally, Piper Sandler raised their target price on shares of Universal Insurance from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, Universal Insurance currently has a consensus rating of “Buy” and a consensus target price of $40.00.
Read Our Latest Analysis on Universal Insurance
Universal Insurance Company Profile
Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.
In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.