UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Holdings in Universal Insurance Holdings Inc $UVE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 100.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,962 shares of the insurance provider’s stock after acquiring an additional 35,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Universal Insurance worth $2,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UVE. Tower Research Capital LLC TRC lifted its position in Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Universal Insurance by 4,847.3% during the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 2,666 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Universal Insurance in the 1st quarter valued at approximately $95,000. IFP Advisors Inc raised its stake in shares of Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 2,324 shares during the period. Finally, Root Financial Partners LLC lifted its holdings in shares of Universal Insurance by 170,750.0% in the 1st quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 3,415 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Stock Up 1.2%

Shares of UVE opened at $44.10 on Friday. The company’s 50-day simple moving average is $42.56 and its 200-day simple moving average is $38.74. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 0.57. Universal Insurance Holdings Inc has a 1 year low of $24.50 and a 1 year high of $45.15. The stock has a market capitalization of $1.23 billion, a PE ratio of 5.82 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.27. The firm had revenue of $419.38 million during the quarter, compared to analysts’ expectations of $614.62 million. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. Analysts forecast that Universal Insurance Holdings Inc will post 4.85 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 31st were paid a $0.16 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance’s payout ratio is 8.44%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean Downes sold 20,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total value of $885,400.00. Following the sale, the chairman directly owned 1,104,645 shares in the company, valued at approximately $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.00% of the company’s stock.

Analyst Ratings Changes

UVE has been the subject of a number of research analyst reports. Piper Sandler increased their price objective on shares of Universal Insurance from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Zacks Research lowered Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings cut Universal Insurance from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 9th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Universal Insurance currently has an average rating of “Hold” and a consensus target price of $45.00.

Universal Insurance Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.