Sean P. Downes Sells 20,000 Shares of Universal Insurance Holdings, Inc. (UVE) Stock
Universal Insurance Holdings, Inc. (NYSE:UVE) CEO Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $47.66, for a total transaction of $953,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,359,141 shares in the company, valued at approximately $64,776,660.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE:UVE opened at $48.80 on Friday. Universal Insurance Holdings, Inc. has a 52-week low of $22.20 and a 52-week high of $50.50. The firm has a market capitalization of $1.71 billion, a P/E ratio of 13.21 and a beta of 1.79. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.02.
Universal Insurance (NYSE:UVE) last announced its earnings results on Wednesday, July 25th. The insurance provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.25. Universal Insurance had a net margin of 16.71% and a return on equity of 29.16%. The company had revenue of $209.79 million during the quarter.
Several research analysts have recently weighed in on UVE shares. ValuEngine cut shares of Universal Insurance from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Keefe, Bruyette & Woods lowered shares of Universal Insurance from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $39.00 to $44.00 in a research report on Friday, July 27th.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.
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