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I have been in this since about 2.50. They are a Property and Casualty insurer in Florida that has taken huge advantage of the exit of the larger companies. They reported .44 for 06. (.19 for 05) Of the .44 almost half (.20) was in the fourth quarter. They continue to add policies and the next two quarters will be hurricane free numbers. They announced yesterday that they have been approved for AMEX and will start trading under the symbol UVE on Monday. They have over 6 dollars a share in cash on hand. First quarter numbers should be in mid may and I expect them to be lights out. Take a look and please add your thoughts.
a surfer
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Universal Insurance Holdings AMEX Listing Approved Wednesday April 25, 9:42 am ET Trading to Begin on April 30, 2007 Under Ticker Symbol UVE
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings, Inc. (the "Company") (OTCBB:UVIH - News), a provider of property and casualty insurance, today announced that it has been advised by the American Stock Exchange ("Amex") that its application for listing of its common stock has been approved. The Company expects that its shares will begin trading on the Amex on Monday, April 30, 2007, under the ticker symbol UVE. ADVERTISEMENT
"We are very excited about the listing of our common stock on the American Stock Exchange. We anticipate this listing will improve the marketability and liquidity of our common stock and create additional shareholder value," said Bradley I. Meier, President and Chief Executive Officer of the Company.
The Amex listing approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on Amex and may be rescinded if the Company is not in compliance with such standards.
About Universal Insurance Holdings, Inc.
Universal Insurance Holdings, Inc. is a vertically integrated insurance company. Readers should refer generally to reports filed by the Company with the SEC, and specifically to the Company's Form 10-KSB for the year ended December 31, 2006 and the Company's latest quarterly report on Form 10-QSB for a discussion of the risk factors that could affect its operations. Such factors include, without limitation, exposure to catastrophic losses; reliance on the Company's reinsurance program; underwriting performance on catastrophe and non-catastrophe risks; the ability to maintain relationships with customers, employees or suppliers; and competition and its effect on pricing, spending, third-party relationships and revenues. Additional factors that may affect future results are contained in the Company's filings with the SEC, which are available at the SEC's web site at http://www.sec.gov. The Company disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise.
Cautionary Language Concerning Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate" and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements.
Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
Contact: Universal Insurance Holdings, Inc., Fort Lauderdale Bradley I. Meier, 954-958-1200
-------------------------------------------------------------------------------- Source: Universal Insurance Holdings, Inc.
a surfer
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Form 8-K for UNIVERSAL INSURANCE HOLDINGS, INC.
On April 25, 2007, Universal Insurance Holdings, Inc. announced that its application for listing of its common stock on the American Stock Exchange has been approved. The announcement, a copy of which is furnished as Exhibit 99.1 to this report, is incorporated herein by reference.
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I also forgot to mention that they pay a great dividend that keeps increasing.
T e x
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quote:Originally posted by gammatheta: I also forgot to mention that they pay a great dividend that keeps increasing.
cash divvy, regularly? do tell...
gammatheta
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.04 April 06 .04 June 06 .05 October 06 .05 March 07 .07 scheduled for August I fully expect this divvy to keep going up as well because it is the main way that the guys who run this company pay themselves. Nevermind the fact that the cash on hand keeps going up and at some point they will have to level that off.
a surfer
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Jumped in today Gamma. I like what I see here overall and think this is a good med. to long term hold!
gammatheta
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This is not for someone who wants to make some quick cash. I personally have my homeowners policy with this company. If everyone pays as much as I do for my 2000 square foot house then these guys will be banking. I am holding this for a while.
gammatheta
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Announced earnings after bell. .30 vs .09 This gives them earnings of .65 for the trailing 4 quarters. Should be a real good day tomorrow. Hopefully it will start getting looked at by the big boys.
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