Sei Investments Co. lowered its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE – Free Report) by 68.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,314 shares of the insurance provider’s stock after selling 28,300 shares during the quarter. Sei Investments Co.’s holdings in Universal Insurance were worth $455,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sierra Summit Advisors LLC raised its holdings in Universal Insurance by 0.9% in the 1st quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock valued at $1,027,000 after acquiring an additional 282 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Universal Insurance by 1.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock worth $965,000 after purchasing an additional 405 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Universal Insurance by 5.2% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock worth $327,000 after purchasing an additional 474 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Universal Insurance by 11.3% in the second quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 534 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Universal Insurance by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock worth $331,000 after purchasing an additional 630 shares during the period. Institutional investors own 66.61% of the company’s stock.
Insider Buying and Selling at Universal Insurance
In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total transaction of $885,400.00. Following the sale, the chairman directly owned 1,104,645 shares of the company’s stock, valued at approximately $48,902,634.15. The trade was a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.00% of the company’s stock.
Universal Insurance Price Performance
Universal Insurance (NYSE:UVE – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.27. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%.The business had revenue of $419.38 million for the quarter, compared to analyst estimates of $614.62 million. On average, sell-side analysts expect that Universal Insurance Holdings Inc will post 4.85 earnings per share for the current fiscal year.
Universal Insurance Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.5%. Universal Insurance’s dividend payout ratio is 8.44%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on UVE. Wall Street Zen cut shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 9th. Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Piper Sandler boosted their target price on shares of Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.00.
Check Out Our Latest Stock Report on UVE
Universal Insurance Profile
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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