Short Interest in Universal Insurance Holdings, Inc. (NYSE:UVE) Expands By 22.0%

Universal Insurance Holdings, Inc. (NYSE:UVEGet Rating) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 701,400 shares, an increase of 22.0% from the May 15th total of 575,000 shares. Based on an average daily trading volume, of 215,300 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.5% of the company’s shares are sold short.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Universal Insurance by 22.6% in the first quarter. Bank of America Corp DE now owns 45,417 shares of the insurance provider’s stock valued at $613,000 after acquiring an additional 8,375 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Universal Insurance in the first quarter valued at $58,000. Redmont Wealth Advisors LLC acquired a new stake in Universal Insurance in the first quarter valued at $331,000. Royal Bank of Canada raised its holdings in Universal Insurance by 10.7% in the first quarter. Royal Bank of Canada now owns 109,964 shares of the insurance provider’s stock valued at $1,483,000 after acquiring an additional 10,670 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in Universal Insurance by 42.6% in the first quarter. Guggenheim Capital LLC now owns 28,040 shares of the insurance provider’s stock valued at $378,000 after acquiring an additional 8,381 shares in the last quarter. 65.84% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE UVE traded up $0.19 during trading on Friday, reaching $12.31. 1,756 shares of the stock were exchanged, compared to its average volume of 129,888. The business’s 50-day moving average price is $12.52 and its 200 day moving average price is $14.30. Universal Insurance has a twelve month low of $11.55 and a twelve month high of $19.64. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $380.99 million, a price-to-earnings ratio of 33.67 and a beta of 1.10.

Universal Insurance (NYSE:UVEGet Rating) last posted its earnings results on Thursday, April 28th. The insurance provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Universal Insurance had a net margin of 1.01% and a return on equity of 2.77%. The business had revenue of $287.48 million for the quarter, compared to analysts’ expectations of $291.07 million. During the same period in the previous year, the company posted $0.84 earnings per share. As a group, sell-side analysts expect that Universal Insurance will post 1.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 13th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.20%. Universal Insurance’s payout ratio is currently 177.78%.

Separately, StockNews.com upgraded shares of Universal Insurance from a “hold” rating to a “buy” rating in a research note on Wednesday, May 4th.

About Universal Insurance (Get Rating)

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 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.

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