Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,685 shares of the insurance provider’s stock after selling 642 shares during the period. Voya Investment Management LLC owned approximately 0.11% of Universal Insurance worth $646,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UVE. American Century Companies Inc. raised its position in shares of Universal Insurance by 10.4% in the 4th quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider’s stock worth $12,823,000 after buying an additional 57,424 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Universal Insurance by 128,888.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider’s stock worth $1,222,000 after purchasing an additional 58,000 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Universal Insurance by 35.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider’s stock worth $3,263,000 after purchasing an additional 38,767 shares during the period. Rhumbline Advisers increased its position in Universal Insurance by 62.5% during the 4th quarter. Rhumbline Advisers now owns 61,935 shares of the insurance provider’s stock worth $1,304,000 after purchasing an additional 23,830 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Universal Insurance by 263.3% in the fourth quarter. Prudential Financial Inc. now owns 42,221 shares of the insurance provider’s stock valued at $889,000 after buying an additional 30,600 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 28th.

Insiders Place Their Bets

In other Universal Insurance news, Director Jon Springer sold 26,393 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $25.61, for a total transaction of $675,924.73. Following the transaction, the director now directly owns 331,835 shares in the company, valued at $8,498,294.35. This represents a 7.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the sale, the chairman now directly owns 990,200 shares of the company’s stock, valued at $21,863,616. The trade was a 1.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,393 shares of company stock worth $1,559,125 in the last quarter. 17.50% of the stock is owned by corporate insiders.

Universal Insurance Trading Up 0.5 %

NYSE:UVE opened at $25.43 on Friday. The business’s 50-day moving average is $22.78 and its two-hundred day moving average is $21.46. The firm has a market capitalization of $715.84 million, a PE ratio of 10.34 and a beta of 0.83. Universal Insurance Holdings, Inc. has a 12 month low of $16.50 and a 12 month high of $25.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.12 by $0.32. The business had revenue of $394.87 million for the quarter, compared to the consensus estimate of $354.97 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. Research analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.52%. The ex-dividend date is Friday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is 27.95%.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.