Universal Insurance Plans New $20M Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
Universal Insurance Holdings (UVE) announced a new $20 million share repurchase authorization, intending to comply with Rule 10b-18 under the Exchange Act and the company's insider trading policy.
June 12, 2023 | 8:09 pm
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Universal Insurance Holdings (UVE) announced a $20 million share repurchase authorization, which may lead to a short-term increase in stock price.
Share repurchase programs are generally seen as a positive signal by investors, as they indicate that the company believes its stock is undervalued and has confidence in its future prospects. This can lead to increased demand for the stock and a short-term increase in stock price. In this case, UVE's announcement of a $20 million share repurchase authorization is likely to have a positive impact on its stock price in the short term.
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