Quantbot Technologies LP acquired a new position in shares of Universal Insurance Holdings Inc (NYSE:UVE – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,383 shares of the insurance provider’s stock, valued at approximately $678,000. Quantbot Technologies LP owned approximately 0.06% of Universal Insurance at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of UVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Universal Insurance by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock valued at $331,000 after buying an additional 630 shares during the period. Millennium Management LLC boosted its holdings in Universal Insurance by 171.5% in the 1st quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock worth $8,148,000 after acquiring an additional 217,184 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock worth $19,083,000 after acquiring an additional 69,289 shares during the period. Jane Street Group LLC grew its position in Universal Insurance by 73.1% in the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider’s stock valued at $1,939,000 after acquiring an additional 34,556 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Universal Insurance in the first quarter valued at approximately $180,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.
Universal Insurance Stock Performance
Universal Insurance stock opened at $43.33 on Friday. Universal Insurance Holdings Inc has a 52 week low of $24.09 and a 52 week high of $45.15. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.21 billion, a P/E ratio of 5.72 and a beta of 0.72. The stock has a 50 day moving average of $41.90 and a 200-day moving average of $37.87.
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 given a $0.16 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance’s payout ratio is presently 8.44%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on UVE. Zacks Research downgraded shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings raised shares of Universal Insurance from a “buy (b)” rating to a “buy (a-)” rating in a research note on Monday, August 17th. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Piper Sandler upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.
Check Out Our Latest Report on UVE
Insider Activity
In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total transaction of $885,400.00. Following the transaction, the chairman owned 1,104,645 shares of the company’s stock, valued at approximately $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.
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.
Read More
- Five stocks we like better than Universal Insurance
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.
