UNIVERSAL INSURANCE HLDG, INC. - UVE STOCK NEWS

Universal Insurance Holdings (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on March 17, 2022, to shareholders of record by March 10, 2022. The company faced inflationary pressures, leading to a conservative reserve strategy that included an estimated $30.7 million strengthening of reserves for the 2021 accident year. Overall, the fourth quarter is expected to impact net income by approximately $80.1 million after-tax, impacting the full-year combined ratio significantly.

Universal Insurance Holdings (NYSE: UVE) has joined the U.S. Environmental Protection Agency’s Green Power Partnership, committing to use 652,000 kilowatt-hours of green power annually, equating to 25% of its electricity consumption. This initiative aims to advance the green power market while reducing air pollution and greenhouse gas emissions. CEO Stephen Donaghy emphasized the importance of green power as an affordable choice for organizations. The EPA praised UVE's leadership, acknowledging its green power usage reduces emissions equivalent to 1,161,251 vehicle miles or 510,708 pounds of coal burned.

Universal Insurance Holdings (NYSE: UVE) announced the successful completion of a $100 million private placement of 5.625% senior unsecured notes due 2026. The offering was upsized and oversubscribed, reflecting strong demand from institutional investors. The proceeds will support general corporate purposes and growth capital, particularly as rate increases continue to benefit the company's business. Notable financial partners included Piper Sandler & Co. as placement agent. The Notes are not registered under the Securities Act, limiting their resale without registration.

Universal Insurance Holdings, Inc. (NYSE: UVE) has declared a quarterly cash dividend totaling 29 cents per share, which includes a regular dividend of 16 cents and a special dividend of 13 cents. This dividend will be payable on December 17, 2021, to shareholders on record as of December 10, 2021. This announcement marks over 10 years of consistently declaring a special dividend in the fourth quarter. The total dividends declared for 2021 amount to 77 cents per share.

Universal Insurance Holdings (NYSE: UVE) reported Q3 2021 diluted GAAP EPS of $0.64 and non-GAAP adjusted EPS of $0.63, with direct premiums earned increasing by 15.0% to $410.6 million. The annualized return on average equity was 16.4%, driven by primary rate increases in Florida. However, total revenue declined by 7.8% due to reduced investment gains. The combined ratio improved significantly to 98.6% from 134.7%, aided by better expense management and fewer adverse weather events. The company maintains its 2021 EPS guidance of $2.75 to $3.00.

Universal Insurance Holdings (NYSE: UVE) is set to release its third-quarter results after the market closes on October 27, 2021. A conference call will follow on October 28, 2021, at 9:00 a.m. ET, to discuss financial outcomes. UVE specializes in property and casualty insurance, primarily focused on personal residential homeowners lines, and operates in 19 states, mainly in Florida. Investors can access the live call via telephone or through a webcast on their website.

Universal Insurance Holdings (NYSE: UVE) reported a Q2 2021 diluted EPS of $0.70, up 12.9% YOY, with direct premiums written increasing by 17.0% to $473.6 million. The company achieved an annualized return on average equity of 18.7%, supported by primary rate increase filings to address social inflation effects in Florida. However, net investment income declined by 53.7% due to lower yields from reinvested portfolios. A quarterly cash dividend of $0.16 was declared, payable on August 9, 2021. Guidance for 2021 maintains EPS between $2.75 - $3.00.

Universal Insurance Holdings (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on August 9, 2021. Shareholders of record as of August 2, 2021 will receive this dividend. The company specializes in property and casualty insurance, primarily for personal residential homeowners. It operates in 19 states, focusing mainly on Florida, and offers insurance through independent agents and direct online channels.

Universal Insurance Holdings, Inc. (UVE) is set to release its second-quarter 2021 results after NYSE trading on July 28, 2021. A conference call will follow on July 29, 2021, at 9:00 a.m. ET, to discuss the financial outcomes. The company specializes in property and casualty insurance, focusing on homeowners' insurance in 19 states, primarily Florida. Investors should tune in to gain insights into UVE's financial performance and future outlook during the earnings call.