Universal Insurance (UVE) Announces $40M Stock Buyback

Universal Insurance Holdings, Inc. (NYSE: UVE) announced today that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $40 million of its outstanding shares of common stock through December 31, 2020. This new authorization follows the existing $20 million share repurchase program that is expected to be completed in the second quarter of 2019.

Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices and are subject to relevant rules under the Securities Exchange Act of 1934, as amended (Exchange Act). The Company will effect repurchase transactions in compliance with Rule 10b-18 under the Exchange Act and the Company's insider trading policy.

You May Also Be Interested In

• Exzeo Group authorizes $25 million share repurchase program
• Collegium Pharmaceutical launches $50M accelerated share repurchase
• Savers Value Village prices $205M secondary stock offering