Brandywine Global Investment Management LLC Sells 2,100 Shares of Universal Insurance Holdings Inc $UVE

Brandywine Global Investment Management LLC reduced its holdings in Universal Insurance Holdings Inc (NYSE:UVE) by 3.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 53,360 shares of the insurance provider’s stock after selling 2,100 shares during the period. Brandywine Global Investment Management LLC’s holdings in Universal Insurance were worth $1,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of UVE. Donald Smith & CO. Inc. grew its stake in shares of Universal Insurance by 6.8% in the first quarter. Donald Smith & CO. Inc. now owns 1,836,718 shares of the insurance provider’s stock worth $43,530,000 after purchasing an additional 116,199 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Universal Insurance by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock worth $19,083,000 after buying an additional 69,289 shares during the period. Geode Capital Management LLC grew its position in shares of Universal Insurance by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 681,853 shares of the insurance provider’s stock valued at $18,909,000 after buying an additional 44,168 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Universal Insurance by 9.8% in the first quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider’s stock valued at $15,847,000 after buying an additional 59,752 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Universal Insurance by 171.5% in the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock valued at $8,148,000 after buying an additional 217,184 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Price Performance

Shares of NYSE UVE opened at $33.31 on Tuesday. The firm has a market capitalization of $934.26 million, a P/E ratio of 7.86 and a beta of 0.77. The firm’s 50-day moving average price is $29.89 and its 200-day moving average price is $26.99. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 0.20. Universal Insurance Holdings Inc has a 1-year low of $18.72 and a 1-year high of $35.84.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.26. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%.The business had revenue of $400.03 million during the quarter, compared to analyst estimates of $366.36 million. Equities research analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, December 5th will be given a dividend of $0.13 per share. This represents a dividend yield of 195.0%. The ex-dividend date of this dividend is Friday, December 5th. Universal Insurance’s dividend payout ratio is presently 15.09%.

Insiders Place Their Bets

In related news, Director Jon Springer sold 35,435 shares of Universal Insurance stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $31.41, for a total value of $1,113,013.35. Following the completion of the sale, the director owned 271,628 shares of the company’s stock, valued at approximately $8,531,835.48. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $31.40, for a total transaction of $628,000.00. Following the sale, the chairman owned 1,283,512 shares of the company’s stock, valued at $40,302,276.80. This trade represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 99,743 shares of company stock worth $3,086,882. 16.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

UVE has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Zacks Research upgraded shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

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.