Universal Insurance Holdings Inc Declares Quarterly Dividend of $0.16 (NYSE:UVE)

Universal Insurance Holdings Inc (NYSE:UVE) declared a quarterly dividend on Wednesday, February 4th. Shareholders of record on Friday, March 6th will be given a dividend of 0.16 per share by the insurance provider on Friday, March 13th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, March 6th.

Universal Insurance has a payout ratio of 21.8% meaning 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 Up 2.8%

Shares of UVE traded up $0.87 during midday trading on Thursday, reaching $32.10. 1,616 shares of the stock were exchanged, compared to its average volume of 199,848. The firm has a 50 day simple moving average of $31.80 and a 200-day simple moving average of $29.00. Universal Insurance has a 12-month low of $19.46 and a 12-month high of $35.84. The company has a market cap of $900.41 million, a price-to-earnings ratio of 7.57 and a beta of 0.70. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20.

Analyst Ratings Changes

UVE has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Wall Street Zen raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Finally, Zacks Research lowered Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

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.