Universal Insurance Holdings Authorizes Additional $20 Million Share Repurchase Program
Universal Insurance Holdings, Inc. (UVE) has announced an additional $20 million authorization for the repurchase of its outstanding common shares. This move is part of the company's existing share repurchase program aimed at returning value to shareholders. The announcement follows a strong third-quarter performance where the company reported Non-GAAP earnings per share of $1.93, exceeding analyst expectations by $0.59. Additionally, revenue reached $439.32 million, beating estimates by approximately $53.88 million. The company also noted an 8% growth in policies-in-force and indicated that recent weather events, specifically Hurricane Isaias, remained manageable.
Tickers: $UVE
Topics: earnings report EPS beat insurance revenue beat share repurchase