Universal Insurance Holdings Inc $UVE Stock Holdings Lessened by Intech Investment Management LLC

Intech Investment Management LLC cut its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 18.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,531 shares of the insurance provider’s stock after selling 2,566 shares during the quarter. Intech Investment Management LLC’s holdings in Universal Insurance were worth $320,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Creative Planning acquired a new stake in Universal Insurance in the second quarter worth $326,000. Islay Capital Management LLC acquired a new stake in shares of Universal Insurance in the 2nd quarter worth about $1,042,000. Geode Capital Management LLC increased its holdings in shares of Universal Insurance by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 681,853 shares of the insurance provider’s stock worth $18,909,000 after acquiring an additional 44,168 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Universal Insurance by 8.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 236,241 shares of the insurance provider’s stock valued at $6,551,000 after purchasing an additional 18,487 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Universal Insurance by 3.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 255,200 shares of the insurance provider’s stock valued at $7,077,000 after purchasing an additional 9,046 shares during the period. Institutional investors own 66.61% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $33.46, for a total transaction of $669,200.00. Following the transaction, the chairman owned 1,263,512 shares of the company’s stock, valued at approximately $42,277,111.52. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jon Springer sold 35,435 shares of Universal Insurance stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $31.41, for a total value of $1,113,013.35. Following the sale, the director directly owned 271,628 shares in the company, valued at approximately $8,531,835.48. This trade represents a 11.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 119,743 shares of company stock worth $3,756,082. Insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on UVE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, October 8th. Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Universal Insurance Trading Down 0.7%

NYSE UVE opened at $33.13 on Monday. The firm’s 50 day moving average price is $30.53 and its two-hundred day moving average price is $27.19. The stock has a market cap of $929.26 million, a price-to-earnings ratio of 7.81 and a beta of 0.77. Universal Insurance Holdings Inc has a twelve month low of $18.72 and a twelve month high of $35.84. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.58 and a current ratio of 0.56.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.26. The company had revenue of $400.03 million during the quarter, compared to the consensus estimate of $366.36 million. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. Equities analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently declared a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.13 per share. This represents a yield of 195.0%. The ex-dividend date is Friday, December 5th. Universal Insurance’s dividend payout ratio (DPR) is 15.09%.

Universal Insurance Profile

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.