LSV Asset Management trimmed its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE – Free Report) by 15.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 253,300 shares of the insurance provider’s stock after selling 47,802 shares during the period. LSV Asset Management’s holdings in Universal Insurance were worth $8,562,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UVE. State of Alaska Department of Revenue purchased a new position in Universal Insurance during the 3rd quarter worth $32,000. Torren Management LLC purchased a new position in Universal Insurance during the 4th quarter worth $54,000. Tower Research Capital LLC TRC grew its stake in Universal Insurance by 390.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,114 shares during the last quarter. IFP Advisors Inc grew its stake in Universal Insurance by 492.4% during the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after buying an additional 2,324 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Universal Insurance by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after buying an additional 534 shares during the last quarter. 66.61% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Wall Street Zen downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research note on Monday, April 20th. Finally, Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Insurance currently has a consensus rating of “Buy” and an average price target of $40.00.
Universal Insurance Stock Performance
Shares of UVE opened at $39.01 on Tuesday. The stock has a 50-day moving average of $36.34 and a two-hundred day moving average of $33.83. Universal Insurance Holdings Inc has a one year low of $21.96 and a one year high of $41.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market cap of $1.09 billion, a P/E ratio of 5.78 and a beta of 0.77.
Universal Insurance (NYSE:UVE – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%.The company had revenue of $398.16 million during the quarter, compared to analysts’ expectations of $481.09 million. As a group, research analysts predict that Universal Insurance Holdings Inc will post 4.75 EPS for the current year.
Universal Insurance Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.64 dividend on an annualized basis and a yield of 1.6%. Universal Insurance’s payout ratio is currently 9.48%.
Insider Transactions at Universal Insurance
In other Universal Insurance news, CAO Kimberly D. Campos sold 879 shares of Universal Insurance stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $33.84, for a total transaction of $29,745.36. Following the completion of the sale, the chief accounting officer owned 7,422 shares of the company’s stock, valued at approximately $251,160.48. The trade was a 10.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $38.73, for a total value of $774,600.00. Following the completion of the transaction, the chairman directly owned 1,168,255 shares of the company’s stock, valued at approximately $45,246,516.15. This trade represents a 1.68% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,879 shares of company stock valued at $2,290,145. 15.00% of the stock is currently owned by insiders.
About Universal Insurance
Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.
In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.
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