Universal Insurance Holdings, Inc. (NYSE:UVE) Position Decreased by LSV Asset Management

LSV Asset Management trimmed its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 0.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 313,302 shares of the insurance provider’s stock after selling 600 shares during the quarter. LSV Asset Management owned approximately 1.09% of Universal Insurance worth $5,878,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UVE. Beacon Pointe Advisors LLC acquired a new stake in Universal Insurance during the 4th quarter worth about $1,901,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Universal Insurance by 11,666.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock valued at $1,193,000 after acquiring an additional 58,214 shares during the period. Highland Capital Management LLC lifted its position in shares of Universal Insurance by 135.1% in the 2nd quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after acquiring an additional 43,718 shares in the last quarter. Legato Capital Management LLC acquired a new position in Universal Insurance in the 2nd quarter worth approximately $789,000. Finally, Vanguard Group Inc. grew its position in Universal Insurance by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after purchasing an additional 41,425 shares in the last quarter. 66.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $18.31, for a total transaction of $366,200.00. Following the completion of the sale, the chairman now directly owns 1,142,262 shares in the company, valued at approximately $20,914,817.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the transaction, the director now owns 473,899 shares in the company, valued at approximately $9,729,146.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, June 14th. The shares were sold at an average price of $18.31, for a total transaction of $366,200.00. Following the completion of the sale, the chairman now directly owns 1,142,262 shares of the company’s stock, valued at approximately $20,914,817.22. The disclosure for this sale can be found here. Insiders have sold a total of 75,173 shares of company stock valued at $1,488,302 in the last three months. Insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th.

Universal Insurance Trading Down 3.8 %

NYSE:UVE opened at $20.38 on Thursday. The stock’s 50-day moving average is $19.83 and its two-hundred day moving average is $19.63. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market cap of $586.94 million, a PE ratio of 7.99 and a beta of 0.89. Universal Insurance Holdings, Inc. has a fifty-two week low of $12.43 and a fifty-two week high of $22.38.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.03. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. The firm had revenue of $380.21 million for the quarter, compared to analyst estimates of $340.09 million. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a $0.16 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. Universal Insurance’s dividend payout ratio (DPR) is currently 25.10%.

Universal Insurance Company Profile

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.