UNIVERSAL INSURANCE HOLDINGS INC (UVE) Shares Gap Up to $17.85

UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE) shares gapped up prior to trading on Monday . The stock had previously closed at $15.35, but opened at $17.85. UNIVERSAL INSURANCE HOLDINGS INC shares last traded at $20.05, with a volume of 2,296,506 shares traded.

Several research firms recently weighed in on UVE. Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price objective on shares of UNIVERSAL INSURANCE HOLDINGS INC in a research report on Friday, August 18th. BidaskClub cut shares of UNIVERSAL INSURANCE HOLDINGS INC from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Finally, ValuEngine cut shares of UNIVERSAL INSURANCE HOLDINGS INC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 18th.

The company has a market capitalization of $710.86 million, a PE ratio of 7.22 and a beta of 1.84. The firm has a 50-day moving average of $22.39 and a 200-day moving average of $24.13.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, September 12th will be given a $0.14 dividend. The ex-dividend date is Monday, September 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.75%. UNIVERSAL INSURANCE HOLDINGS INC’s dividend payout ratio is currently 19.93%.

In related news, CFO Frank Wilcox bought 2,000 shares of the business’s stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $17.69 per share, for a total transaction of $35,380.00. Following the completion of the transaction, the chief financial officer now directly owns 96,024 shares of the company’s stock, valued at approximately $1,698,664.56. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 10.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in UNIVERSAL INSURANCE HOLDINGS INC by 73,456.7% in the first quarter. BlackRock Inc. now owns 4,062,534 shares of the insurance provider’s stock valued at $99,533,000 after buying an additional 4,057,011 shares in the last quarter. Vanguard Group Inc. boosted its position in UNIVERSAL INSURANCE HOLDINGS INC by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,730,592 shares of the insurance provider’s stock valued at $94,011,000 after buying an additional 55,438 shares in the last quarter. LSV Asset Management boosted its position in UNIVERSAL INSURANCE HOLDINGS INC by 4.3% in the second quarter. LSV Asset Management now owns 1,662,159 shares of the insurance provider’s stock valued at $41,886,000 after buying an additional 68,231 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in UNIVERSAL INSURANCE HOLDINGS INC by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,631,586 shares of the insurance provider’s stock valued at $41,117,000 after buying an additional 12,708 shares in the last quarter. Finally, State Street Corp boosted its position in UNIVERSAL INSURANCE HOLDINGS INC by 4.6% in the second quarter. State Street Corp now owns 807,769 shares of the insurance provider’s stock valued at $20,353,000 after buying an additional 35,363 shares in the last quarter. Hedge funds and other institutional investors own 73.35% of the company’s stock.

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About UNIVERSAL INSURANCE HOLDINGS INC

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

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