Universal Insurance Director Sells Shares Amid Insider Selling Trend

Universal Insurance Holdings director Michael Pietrangelo sold 12,351 shares of company stock at $20.4262 per share, totaling $252,283. This sale is part of a broader trend of insider selling within the company, with multiple insiders selling shares in the last 24 months.

Aqsa Younas Rana
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Universal Insurance Director Sells Shares Amid Insider Selling Trend

Universal Insurance Director Sells Shares Amid Insider Selling Trend

On May 10, 2024, Universal Insurance Holdings, Inc. (NYSE:UVE) director Michael Pietrangelo sold a significant portion of his holdings in the company, according to a recent filing with the Securities and Exchange Commission. The transaction involved the sale of 12,351 shares of Universal Insurance's common stock at a weighted average price of $20.4262 per share, amounting to a total value of $252,283.

Why this matters: Insider selling activity can be an important indicator of a company's financial health and executive confidence, making it a crucial consideration for investors. As Universal Insurance navigates the dynamic insurance industry, the recent trend of insider selling may have broader implications for the company's future performance and shareholder value.

The shares were sold in multiple transactions at prices ranging from $20.3025 to $20.475. Following the sale, Pietrangelo's remaining stake in the company consists of 80,074 shares of common stock, maintaining a substantial interest in the insurer's performance.

Universal Insurance Holdings, based in Fort Lauderdale, Florida, operates in the property and casualty insurance sector, providing coverage for homeowners, renters, and other policyholders. The has a history of adapting to market conditions and regulatory changes, aiming to deliver value to its customers and shareholders alike.

The sale by Pietrangelo comes at a time when insider transactions are closely monitored by investors seeking insights into company health and executive confidence. This transaction is part of a broader trend of insider selling activities within Universal Insurance, with multiple insiders selling UVE shares in the last 24 months.

Over the past year, Director Michael Pietrangelo has sold a total of 27,351 shares and has not made any purchases. The company has seen a total of 8 insider sells and only 1 insider buy over the past year, indicating a broader trend of insider selling. Insiders have purchased a total of 20,500 UVE shares in the last 24 months for a total of $229,985.00, while selling a total of 235,363 shares for $3,794,910.22.

Notable insider sales include Gary Lloyd Ropiecki selling UVE shares worth $20,775.55, Jon Springer selling shares worth $191,203.74, Michael Pietrangelo selling shares worth $497,430.93, and Sean P Downes selling shares worth $3,085,500.00. Currently, 17.70% of Universal Insurance stock is owned by insiders.

Amidst the recent insider trading activity at Universal Insurance Holdings, Inc. (NYSE:UVE), it's essential to look at the company's financial health and market performance to gauge its standing. According to real-time data from InvestingPro, Universal Insurance Holdings is currently exhibiting a strong market position with a market capitalization of $595.03 million USD.

The company's P/E ratio stands at an attractive 8.01, reflecting a potential value play for investors. Universal Insurance's revenue growth of 15.29% over the last twelve months as of Q1 2024, and its impressive track record of maintaining dividend payments for 19 consecutive years, with a current dividend yield of 3.74%, add to its appeal.

InvestingPro Tips further highlight the company's robust performance, with a strong return over the last three months, culminating in a 26.77% price total return, and a large price uptick over the last six months, reporting a 32.89% return. These metrics suggest that investor confidence in the company is growing, which may be a positive signal for potential investors.

As Universal Insurance Holdings navigates the dynamic landscape of the insurance industry, the recent insider selling activity, led by Director Michael Pietrangelo's substantial share sale, provides valuable insights into the company's internal sentiment. However, with strong financial metrics and a growing market position, Universal Insurance appears well-positioned to continue delivering value to its shareholders in the face of evolving market conditions and regulatory challenges.

Key Takeaways

  • Universal Insurance director Michael Pietrangelo sold 12,351 shares at $20.4262/share, totaling $252,283.
  • Insider selling activity may indicate company financial health and executive confidence.
  • Universal Insurance has seen 8 insider sells and 1 insider buy in the last year, with 17.70% of stock owned by insiders.
  • The company has a strong market position, with a $595.03 million market cap and 8.01 P/E ratio.
  • Universal Insurance has a 15.29% revenue growth rate and a 3.74% dividend yield, making it a potential value play.