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UVE - Universal Insurance Holdings


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A lot of insurance investors on this board...any following in this stock?


Just starting to dig through the 10-Ks. Came up on a recent stock screen.


Initial thoughts on long-term prospects look good at the current pricing levels.

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I've been following UVE for several years and have thought about buying their stock several times, but haven't pulled the trigger. The are diversifying their business beyond Florida and writing homeowner policies in North & South Carolina and Hawaii. They have an application in for doing business in GA and exploring options in Texas. The diversification should help reduce potentially huge hurricane losses in FL.


The company pays out a lot of their profits, making the yield close to 10% over the last 12 months. I don't see management as capital allocators, so a purchase would have to be on the merits of a small, but growing insurance business.


What do yo think?


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