Universal Insurance Holdings Inc (UVE) to Distribute Quarterly Dividend of $0.16 on August 7th

Universal Insurance Holdings Inc (NYSE:UVE) announced a quarterly dividend on Wednesday, July 8th. Stockholders of record on Friday, July 31st will be given a dividend of 0.16 per share by the insurance provider on Friday, August 7th. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, July 31st.

Universal Insurance has a dividend payout ratio of 21.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Universal Insurance to earn $4.75 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 13.5%.

Universal Insurance Stock Performance

NYSE:UVE opened at $44.13 on Wednesday. Universal Insurance has a 1 year low of $22.87 and a 1 year high of $44.57. The firm has a 50 day moving average of $39.38 and a 200-day moving average of $35.83. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.23 billion, a P/E ratio of 5.82 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.27. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%.The business had revenue of $419.38 million for the quarter, compared to analyst estimates of $614.62 million. As a group, sell-side analysts anticipate that Universal Insurance will post 4.85 EPS for the current fiscal year.

About Universal Insurance

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.