Wells Fargo & Company MN Cuts Position in Universal Insurance Holdings, Inc. (NYSE:UVE)


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Wells Fargo & Company MN reduced its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 10.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,904 shares of the insurance provider’s stock after selling 8,495 shares during the period. Wells Fargo & Company MN owned approximately 0.24% of Universal Insurance worth $1,117,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of UVE. BlackRock Inc. lifted its stake in shares of Universal Insurance by 1.3% in the fourth quarter. BlackRock Inc. now owns 4,322,018 shares of the insurance provider’s stock valued at $65,306,000 after purchasing an additional 56,034 shares during the period. Aperio Group LLC boosted its stake in shares of Universal Insurance by 231.5% during the 4th quarter. Aperio Group LLC now owns 34,054 shares of the insurance provider’s stock worth $515,000 after acquiring an additional 23,782 shares in the last quarter. SG Americas Securities LLC purchased a new position in Universal Insurance in the 4th quarter valued at approximately $244,000. US Bancorp DE acquired a new stake in Universal Insurance in the fourth quarter valued at $95,000. Finally, Boston Partners purchased a new stake in shares of Universal Insurance in the fourth quarter valued at about $505,000. Institutional investors own 71.92% of the company’s stock.

Shares of NYSE UVE opened at $13.95 on Thursday. The company has a 50-day simple moving average of $14.95 and a 200-day simple moving average of $14.52. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $435.32 million, a PE ratio of -33.21 and a beta of 1.08. Universal Insurance Holdings, Inc. has a 12 month low of $10.84 and a 12 month high of $20.85.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, February 25th. The insurance provider reported ($0.84) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.69) by $0.85. Universal Insurance had a negative net margin of 1.38% and a negative return on equity of 10.94%. The firm had revenue of $273.13 million during the quarter, compared to analysts’ expectations of $263.10 million. On average, analysts anticipate that Universal Insurance Holdings, Inc. will post 0.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Thursday, March 11th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Wednesday, March 10th. This represents a $0.64 annualized dividend and a yield of 4.59%. Universal Insurance’s dividend payout ratio (DPR) is presently 54.24%.

Universal Insurance Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also offers personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.

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Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

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