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Sean P. Downes, the Executive Chairman of Universal Insurance Holdings, Inc. (NYSE:UVE), a $616 million market cap insurance company that has shown strong momentum with a 13% gain in the past week, recently sold 20,000 shares of the company. The sale, executed on February 28, 2025, was conducted at a weighted average price of $22.0789 per share, totaling approximately $441,578. Following this transaction, Downes holds 990,200 shares directly. Additionally, his indirect holdings include 2,000 shares owned by his spouse and 18,000 shares owned by his children. The shares were sold in multiple transactions at prices ranging from $21.905 to $22.19. Trading at 10.7x earnings and maintaining dividends for 20 consecutive years, InvestingPro analysis suggests the stock is slightly undervalued, with 8 additional key insights available to subscribers.
In other recent news, Universal Insurance Holdings Inc . reported a strong fourth quarter for 2024, with earnings per share (EPS) reaching $0.25, significantly surpassing the analysts’ forecast of $0.09. However, the company’s revenue fell short of expectations, coming in at $384.8 million against a projected $449.9 million. Despite this revenue shortfall, the company’s strategic market expansion efforts, particularly outside Florida, contributed to an 8.8% year-over-year increase in direct premiums written, totaling $470.9 million. The company also reported a 5.7% increase in overall revenue compared to the previous year, driven by higher net premiums earned, net investment income, and commission revenue.
Universal Insurance’s stock performance reflected positive investor sentiment, with a 4.8% increase following the earnings announcement. The company remains focused on profitability, with CEO Steve Donaghy emphasizing strategic market entry and writing business where it makes the most sense. The firm has also secured multi-year reinsurance capacity for 2026, indicating a proactive approach to managing potential risks. Additionally, Universal Insurance repurchased approximately 370,000 shares, signaling confidence in its stock. Piper Sandler analysts engaged with the company during the earnings call, discussing topics such as reserve development and growth efforts in new markets.
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