Quest Partners LLC lowered its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE – Free Report) by 24.8% during the third quarter, HoldingsChannel reports. The fund owned 23,833 shares of the insurance provider’s stock after selling 7,871 shares during the period. Quest Partners LLC’s holdings in Universal Insurance were worth $528,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. CWA Asset Management Group LLC purchased a new position in Universal Insurance in the third quarter valued at approximately $6,322,000. Bank of Montreal Can grew its position in shares of Universal Insurance by 283.0% in the 2nd quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after buying an additional 276,700 shares during the last quarter. American Century Companies Inc. raised its stake in Universal Insurance by 44.5% during the 2nd quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock worth $8,814,000 after acquiring an additional 144,647 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in Universal Insurance by 64.6% in the third quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock valued at $4,468,000 after acquiring an additional 79,138 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in Universal Insurance by 108.6% in the third quarter. GSA Capital Partners LLP now owns 93,851 shares of the insurance provider’s stock valued at $2,080,000 after acquiring an additional 48,864 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th.
Insider Buying and Selling at Universal Insurance
In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $20.21, for a total value of $404,200.00. Following the completion of the sale, the chairman now owns 1,062,262 shares in the company, valued at approximately $21,468,315.02. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 55,064 shares of company stock worth $1,191,937. 17.50% of the stock is currently owned by insiders.
Universal Insurance Stock Performance
Shares of UVE opened at $22.88 on Friday. The company’s 50 day simple moving average is $20.86 and its 200-day simple moving average is $20.04. Universal Insurance Holdings, Inc. has a 12-month low of $15.63 and a 12-month high of $23.27. The firm has a market cap of $647.28 million, a PE ratio of 9.30 and a beta of 0.90. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.
Universal Insurance (NYSE:UVE – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The company had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. During the same period in the previous year, the business posted ($0.16) earnings per share. As a group, equities analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.
Universal Insurance Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.27%. Universal Insurance’s payout ratio is 26.02%.
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.
Read More
- Five stocks we like better than Universal Insurance
- What is a Low P/E Ratio and What Does it Tell Investors?
- Vertiv’s Cool Tech Makes Its Stock Red-Hot
- Stock Dividend Cuts Happen Are You Ready?
- MarketBeat Week in Review – 11/18 – 11/22
- Election Stocks: How Elections Affect the Stock Market
- 2 Finance Stocks With Competitive Advantages You Can’t Ignore
Want to see what other hedge funds are holding UVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Insurance Holdings, Inc. (NYSE:UVE – Free Report).
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.