Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lowered its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 42.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,918 shares of the insurance provider’s stock after selling 10,966 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Universal Insurance were worth $280,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UVE. Quarry LP grew its holdings in shares of 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 buying an additional 1,129 shares during the last quarter. Occidental Asset Management LLC purchased a new stake in shares of Universal Insurance during the 2nd quarter worth $196,000. SG Americas Securities LLC increased its holdings in shares of Universal Insurance by 17.4% in the 2nd 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 in the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Universal Insurance in the first quarter valued at about $289,000. Finally, Bailard Inc. boosted its holdings in Universal Insurance by 33.3% during the second quarter. Bailard Inc. now owns 16,800 shares of the insurance provider’s stock worth $315,000 after buying an additional 4,200 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Price Performance

Universal Insurance stock opened at $21.51 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $20.62 and its 200 day simple moving average is $19.80. Universal Insurance Holdings, Inc. has a 52 week low of $13.10 and a 52 week high of $23.27. The firm has a market capitalization of $612.60 million, a PE ratio of 8.44 and a beta of 0.89.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. The business had revenue of $380.21 million during the quarter, compared to analysts’ expectations of $340.09 million. During the same period last year, the company posted $0.87 EPS. On average, equities research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, August 2nd. Universal Insurance’s dividend payout ratio is presently 25.10%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares in the company, valued at $24,318,427.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the completion of the transaction, the director now owns 473,899 shares in the company, valued at approximately $9,729,146.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,173 shares of company stock worth $1,571,502. Corporate insiders own 17.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th.

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.