BNP Paribas Arbitrage SA reduced its position in shares of Universal Insurance Holdings Inc. (NYSE:UVE) by 47.7% during the third quarter, Holdings Channel reports. The firm owned 5,857 shares of the company’s stock after selling 5,334 shares during the period. BNP Paribas Arbitrage SA’s holdings in Universal Insurance Holdings were worth $148,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Universal Insurance Holdings by 24.6% in the second quarter. BlackRock Inc. now owns 6,275 shares of the company’s stock worth $116,000 after buying an additional 1,240 shares during the period. Mason Street Advisors LLC bought a new stake in Universal Insurance Holdings during the second quarter worth about $117,000. Springbok Capital Management LLC raised its stake in Universal Insurance Holdings by 150.0% in the first quarter. Springbok Capital Management LLC now owns 13,500 shares of the company’s stock worth $240,000 after buying an additional 8,100 shares during the period. Fox Run Management L.L.C. bought a new stake in Universal Insurance Holdings during the second quarter worth about $245,000. Finally, Acrospire Investment Management LLC bought a new stake in Universal Insurance Holdings during the first quarter worth about $260,000. Institutional investors and hedge funds own 71.95% of the company’s stock.
Universal Insurance Holdings (NYSE:UVE) last posted its earnings results on Thursday, July 28th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. The firm had revenue of $169.80 million for the quarter, compared to analyst estimates of $167.40 million. Universal Insurance Holdings had a return on equity of 38.12% and a net margin of 18.11%.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Monday, September 12th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Thursday, September 8th. This is a positive change from Universal Insurance Holdings’s previous quarterly dividend of $0.12. Universal Insurance Holdings’s dividend payout ratio is 16.92%.
In related news, Director Scott P. Callahan sold 10,000 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $21.82, for a total value of $218,200.00. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $327,300. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.40% of the stock is owned by corporate insiders.
Universal Insurance Holdings Company Profile
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company writes personal residential homeowners insurance policies, predominantly in Florida.
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