Common insurance coverage’s govt chairman Sean Downes sells $1.03 million in inventory

FORT LAUDERDALE, Fla.—Sean P. Downes, Govt Chairman of Common Insurance coverage Holdings, Inc. (NYSE:UVE), lately bought 50,000 shares of the corporate’s widespread inventory. The transactions, carried out on December 30, 2024, had been executed at a weighted common value of $20.5119 per share, totaling roughly $1.03 million. The insurance coverage supplier, with a market capitalization of $598 million, at present trades at $21.06 and affords a 3.75% dividend yield, having maintained dividend funds for 19 consecutive years.

Following this sale, Downes retains direct possession of 985,320 shares. Moreover, he holds 2,000 shares not directly via his partner and 18,000 shares via his youngsters.

These transactions had been detailed in a Type 4 submitting with the Securities and Alternate Fee.

In different latest information, Common Insurance coverage Holdings Inc (NYSE:UVE). reported a big adjusted loss per widespread share of $0.73 in its third-quarter monetary outcomes, a lower from the earlier 12 months. Regardless of being impacted by latest hurricanes, the corporate stays hopeful about its non-catastrophe underwriting traits and enlargement into new markets, together with Wisconsin. Direct premiums written confirmed a rise of 8%, with vital development exterior of Florida. Nevertheless, the online mixed ratio deteriorated to 116.9%, primarily resulting from larger web loss and expense ratios.

The corporate additionally repurchased 226,000 shares for $4.4 million and declared a quarterly dividend of $0.16 per share. Regardless of the elevated web loss ratio resulting from larger weather-related losses, primarily from Hurricane Helene, the core income is up by 5.4% year-over-year. This enhance is pushed by larger web premiums earned and fee income.

Moreover, Common Insurance coverage has made its presence identified in 19 states with its newest enterprise opening in Wisconsin. The corporate expects this enlargement to diversify its e book of enterprise. These are the latest developments for Common Insurance coverage Holdings Inc., which stays cautiously optimistic concerning the future, noting enhancements in underwriting outcomes.

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