Universal Insurance Holdings shares are trading higher after the company announced a $20 million share repurchase authorization.
Portfolio Pulse from Benzinga Newsdesk
Universal Insurance Holdings announced a $20 million share repurchase authorization, leading to an increase in its share price.
March 12, 2024 | 4:18 pm
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Universal Insurance Holdings announced a $20 million share repurchase authorization, which has led to an increase in its share price.
Share repurchase programs often lead to an increase in the stock price as they can indicate that the company believes its stock is undervalued and it also reduces the number of shares outstanding, potentially increasing earnings per share.
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