CWA Asset Management Group LLC Increases Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

CWA Asset Management Group LLC grew its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 100.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 570,615 shares of the insurance provider’s stock after buying an additional 285,338 shares during the period. CWA Asset Management Group LLC’s holdings in Universal Insurance were worth $12,017,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of UVE. Quarry LP raised its holdings in shares of Universal Insurance by 424.4% in the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,129 shares in the last quarter. Covestor Ltd raised its stake in shares of Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after acquiring an additional 1,328 shares during the period. CWM LLC boosted its holdings in Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 723 shares during the last quarter. Aigen Investment Management LP bought a new position in Universal Insurance in the 3rd quarter worth about $202,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Universal Insurance in the 3rd quarter worth $206,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Price Performance

UVE stock traded down $0.44 during trading on Monday, reaching $19.54. 19,537 shares of the company were exchanged, compared to its average volume of 72,654. The company has a 50-day moving average of $21.48 and a two-hundred day moving average of $20.46. Universal Insurance Holdings, Inc. has a twelve month low of $15.78 and a twelve month high of $23.39. 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 company has a market capitalization of $552.71 million, a price-to-earnings ratio of 7.94 and a beta of 0.93.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, topping 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 analysts’ expectations of $341.98 million. During the same quarter last year, the company earned ($0.16) EPS. As a group, equities analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.66%. Universal Insurance’s payout ratio is presently 26.02%.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 25,000 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the sale, the director now directly owns 383,228 shares in the company, valued at approximately $7,905,993.64. The trade was a 6.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sean P. Downes sold 15,064 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $22.46, for a total transaction of $338,337.44. Following the transaction, the chairman now owns 1,047,198 shares of the company’s stock, valued at approximately $23,520,067.08. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,064 shares of company stock valued at $2,283,787. 17.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

About Universal Insurance

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.