Universal Ins Hldgs Inc Stock Price, News & Analysis

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.

Universal Insurance Holdings, Inc. (UVE) announced the completion of its 2021-2022 reinsurance programs through its subsidiaries, UPCIC and APPCIC, effective June 1, 2021. Key highlights include securing $3.413 billion for a single Florida event and $383 million of catastrophe capacity extending through 2023. The company increased its first event catastrophe retention for Florida to $45 million, reflecting 7.5% of stockholder equity. Despite rising reinsurance costs, UVE anticipates better positioning due to ongoing primary rate increases and enhanced risk mitigation strategies.

Universal Insurance Holdings (NYSE: UVE) announced a strong start to 2021 with a diluted EPS of $0.84 and total revenue of $262.8 million, marking an 11.7% increase year-over-year. The company experienced margin expansion exceeding 200 basis points and an annualized return on average equity of 23.2%. CEO Stephen J. Donaghy highlighted progress on their reinsurance program and noted the passage of Florida Senate Bill 76, aimed at improving property insurance access. However, the firm has actively reduced policy counts due to market pressures.

Universal Insurance Holdings (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, scheduled for payment on May 21, 2021. This dividend is for shareholders on record as of the close of business on May 14, 2021. As a leader in property and casualty insurance, UVE provides services primarily in Florida and offers various insurance products through independent agents and online channels.

Universal Insurance Holdings, Inc. (NYSE: UVE) will release its first quarter 2021 financial results on April 28, 2021, after the market closes. A conference call to discuss these results is scheduled for April 29, 2021, at 9:00 a.m. ET. Investors can listen via dial-in or through a live webcast available on the company's website. Universal Insurance is involved in property and casualty insurance, focusing on personal residential homeowners' insurance primarily in Florida.

Universal Insurance Holdings, Inc. (NYSE: UVE) has declared a quarterly cash dividend of 16 cents per share, payable on March 18, 2021. Shareholders must be on record by the close of business on March 11, 2021 to qualify for the payment. The company is recognized for its provision of property and casualty insurance, particularly in the homeowners insurance sector. UVE operates primarily in Florida and offers services like risk and claims management through independent agents and direct online channels.

Universal Insurance Holdings (NYSE: UVE) reported a fourth quarter GAAP diluted EPS of $(0.57) and non-GAAP adjusted EPS of $(0.84) for 2020. Despite a 21.9% increase in direct premiums written, total revenue grew by 14.1% to $273.1 million. The company faced record weather events impacting results. Underwriting improved, with policies in force rising 10.9%. Total net investment income fell by 62.7%, while repurchases of 1.6 million shares were made in 2020. For 2021, UVE projects EPS between $2.75 - $3.00, assuming no extraordinary weather events.

Universal Insurance Holdings, Inc. (NYSE: UVE) plans to release its fourth quarter 2020 results on February 25, 2021, after market close. A conference call to discuss these results is scheduled for February 26, 2021, at 9:00 a.m. ET. The company anticipates a net impact of approximately $76 million pre-tax due to weather-related events, along with an additional development impact of $23.4 million pre-tax. CEO Stephen J. Donaghy emphasized strategic progress and rate increase approvals as positive future indicators for the company.

Universal Property & Casualty Insurance Company, part of Universal Insurance Holdings (UVE), is enhancing its property underwriting and claims workflows by integrating Verisk's data analytics solutions. This move includes the adoption of Xactimate®, alongside existing tools like 360Value® and LOCATION®, to provide comprehensive claims analytics and support underwriting processes. The collaboration aims to improve operational efficiencies, customer experience, and precision in risk assessment, ultimately benefiting policyholders with tailored coverage.