Centiva Capital LP Decreases Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Centiva Capital LP decreased its position in Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,839 shares of the insurance provider’s stock after selling 1,083 shares during the period. Centiva Capital LP’s holdings in Universal Insurance were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC increased its holdings in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after acquiring an additional 723 shares during the last quarter. Quarry LP boosted its position in Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 1,129 shares during the period. Covestor Ltd increased its stake in shares of Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 1,328 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Universal Insurance by 17.4% in the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,833 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Universal Insurance by 11.0% in the 2nd quarter. Principal Financial Group Inc. now owns 24,963 shares of the insurance provider’s stock worth $468,000 after buying an additional 2,479 shares during the period. 66.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research report on Sunday, November 10th.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. The trade was a 1.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 55,064 shares of company stock valued at $1,191,937. Insiders own 17.50% of the company’s stock.

Universal Insurance Stock Performance

NYSE UVE opened at $21.22 on Wednesday. The stock has a market capitalization of $600.31 million, a PE ratio of 8.63 and a beta of 0.92. Universal Insurance Holdings, Inc. has a 1 year low of $15.63 and a 1 year high of $23.39. The company’s 50 day simple moving average is $20.95 and its two-hundred day simple moving average is $20.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.30. The business had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period in the previous year, the business posted ($0.16) earnings per share. Analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, December 6th. Universal Insurance’s dividend payout ratio is currently 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.