Universal Insurance Holdings (UVE)
Closing price: $4.71 (May 26)
Annual Dividend: 40 centsDividend Yield: 8.5% (forward annual) Price-to-Book: 1.90 Recent developments: Earlier this week, Universal Insurance declared its latest dividend, payable on July 15 to shareholders of record on June 17. On May 10, Universal Insurance said it had first-quarter net income of $8.3 million, or 21 cents a share, down from a year-ago profit of $12.4 million, or 31 cents a share. The company attributed the decline to continuing pressure on operating results because of state-mandated wind-mitigation credits and higher reinsurance costs. While Universal Insurance's P/E ratio trailing 12 months is slightly above other nonlife insurance companies, it trades at a discount on a price-to-book basis.
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