Geode Capital Management LLC Increases Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Geode Capital Management LLC boosted its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.7% in the 3rd quarter, Holdings Channel reports. The firm owned 689,767 shares of the insurance provider’s stock after purchasing an additional 49,123 shares during the period. Geode Capital Management LLC’s holdings in Universal Insurance were worth $15,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of UVE. Barclays PLC grew its stake in shares of Universal Insurance by 69.5% in the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after purchasing an additional 28,278 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Universal Insurance during the third quarter worth $241,000. Jane Street Group LLC grew its position in Universal Insurance by 2,142.1% in the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after buying an additional 57,108 shares during the last quarter. Quarry LP increased its stake in Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after buying an additional 776 shares during the period. Finally, HighTower Advisors LLC purchased a new position in Universal Insurance during the 3rd quarter worth $636,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Stock Performance

NYSE:UVE opened at $20.62 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $583.26 million, a PE ratio of 8.38 and a beta of 0.92. The firm has a 50 day simple moving average of $21.36 and a 200-day simple moving average of $20.38. Universal Insurance Holdings, Inc. has a 1-year low of $15.78 and a 1-year high of $23.39.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.30. The firm had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period last year, the company earned ($0.16) EPS. On average, equities analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Friday, December 6th. Universal Insurance’s payout ratio is 26.02%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Universal Insurance

In related news, Director Jon Springer sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the transaction, the director now owns 383,228 shares in the company, valued at $7,905,993.64. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 15,064 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $22.46, for a total transaction of $338,337.44. Following the completion of the sale, the chairman now directly owns 1,047,198 shares in the company, valued at approximately $23,520,067.08. This trade represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,064 shares of company stock valued at $1,258,287. Corporate insiders own 17.50% of the company’s stock.

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.