Universal Insurance Holdings, Inc. (NYSE:UVE) Executive Chairman, Sean P. Downes, has sold a total of $394,433 worth of company stock, according to a recent filing with the Securities and Exchange Commission. The transaction took place on May 2, and the shares were sold at a weighted average price of $19.7217.
The sale was executed in multiple transactions with prices ranging from $19.60 to $20.14 per share. This significant stock sale by Downes has left him with 1,162,262 shares of Universal Insurance Holdings, Inc. still directly under his ownership. Additionally, it was reported that associated holdings by his spouse and children amount to 2,000 and 18,000 shares, respectively.
Investors often monitor the buying and selling activities of company executives as they can provide insights into the insider's view of the company's future performance. The transactions are public information and are routinely filed with the SEC to ensure transparency.
Universal Insurance Holdings, Inc., based in Fort Lauderdale, Florida, operates within the fire, marine, and casualty insurance sector. The company has been a staple in the insurance industry and is incorporated in Delaware.
The recent transaction comes at a time when market participants are keenly observing insider trading patterns for signs of corporate confidence. While the reasons for Downes' stock sale are not disclosed, such transactions are common among executives for reasons ranging from personal financial management to diversification strategies.
Shareholders and potential investors in Universal Insurance Holdings, Inc. can request detailed information about the specific prices and number of shares sold at each price point directly from the company or the SEC.
InvestingPro Insights
Amidst the recent insider trading activity at Universal Insurance Holdings, Inc. (NYSE:UVE), the company's financial metrics and analyst insights from InvestingPro suggest a nuanced picture of its performance and potential. With a market capitalization of $570.58 million and a notably low P/E ratio of 7.48 as of the last twelve months ending Q1 2024, Universal Insurance Holdings stands out in the insurance sector for its valuation.
The company's commitment to rewarding shareholders is evident through its high shareholder yield, a critical InvestingPro Tip that aligns with the 3.9% dividend yield reported as of the latest data. This reflects Universal Insurance Holdings' track record of maintaining dividend payments for 19 consecutive years, a testament to its financial stability and consistent returns to shareholders.
InvestingPro Data also highlights a robust revenue growth of 15.29% over the last twelve months as of Q1 2024, coupled with an impressive 20.28% return over the past three months. These figures underscore the company's strong performance in the short term, which may be of interest to investors looking for growth as well as income.
For those considering investing in Universal Insurance Holdings, Inc., there are more InvestingPro Tips available that delve deeper into the company's financial health and future outlook. For instance, while short-term obligations exceed liquid assets, analysts predict profitability for the current year, and the company has been profitable over the last twelve months. Furthermore, the price has experienced a significant uptick over the last six months, with a 25.31% total return in that period.
Investors interested in a more comprehensive analysis can explore additional insights on InvestingPro, where there are a total of 7 InvestingPro Tips for UVE. To access these valuable tips and metrics, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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