Los Angeles Capital Management LLC trimmed its position in Universal Insurance Holdings, Inc. (NYSE:UVE – Get Rating) by 11.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 161,492 shares of the insurance provider’s stock after selling 20,508 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Universal Insurance were worth $1,591,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. purchased a new position in Universal Insurance during the second quarter valued at approximately $26,000. KBC Group NV acquired a new stake in shares of Universal Insurance during the 2nd quarter worth approximately $26,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Universal Insurance by 137.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,943 shares of the insurance provider’s stock valued at $38,000 after purchasing an additional 2,282 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Universal Insurance during the 1st quarter valued at approximately $58,000. Finally, Captrust Financial Advisors increased its holdings in shares of Universal Insurance by 1,340.5% during the 1st quarter. Captrust Financial Advisors now owns 9,464 shares of the insurance provider’s stock valued at $128,000 after purchasing an additional 8,807 shares in the last quarter. 66.85% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Francis Xavier Mccahill III purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was bought at an average price of $10.17 per share, with a total value of $30,510.00. Following the acquisition, the director now owns 13,337 shares in the company, valued at $135,637.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Universal Insurance news, Director Francis Xavier Mccahill III bought 3,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was acquired at an average price of $10.17 per share, with a total value of $30,510.00. Following the completion of the acquisition, the director now directly owns 13,337 shares of the company’s stock, valued at $135,637.29. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jon Springer sold 16,861 shares of the company’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of $11.34, for a total transaction of $191,203.74. Following the sale, the director now directly owns 523,672 shares of the company’s stock, valued at approximately $5,938,440.48. The disclosure for this sale can be found here. 16.10% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Universal Insurance Trading Up 1.0 %
Shares of NYSE UVE opened at $12.24 on Monday. The firm has a fifty day moving average of $10.82 and a 200 day moving average of $11.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.69. Universal Insurance Holdings, Inc. has a one year low of $8.39 and a one year high of $18.13.
Universal Insurance (NYSE:UVE – Get Rating) last issued its quarterly earnings results on Thursday, October 27th. The insurance provider reported ($2.27) EPS for the quarter, topping the consensus estimate of ($2.51) by $0.24. The company had revenue of $312.81 million during the quarter, compared to analyst estimates of $307.12 million. Universal Insurance had a negative net margin of 8.06% and a negative return on equity of 22.70%. As a group, analysts forecast that Universal Insurance Holdings, Inc. will post -1.4 EPS for the current fiscal year.
Universal Insurance Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 9th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.23%. The ex-dividend date was Thursday, December 8th. Universal Insurance’s payout ratio is presently -20.65%.
Universal Insurance Company 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 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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