29,629 Shares in Universal Insurance Holdings, Inc. (NYSE:UVE) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. bought a new position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,629 shares of the insurance provider’s stock, valued at approximately $473,000. Cornercap Investment Counsel Inc. owned approximately 0.10% of Universal Insurance as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CWA Asset Management Group LLC acquired a new stake in Universal Insurance in the third quarter valued at approximately $7,935,000. rhino investment partners Inc acquired a new stake in Universal Insurance in the fourth quarter valued at approximately $4,929,000. Invesco Ltd. grew its position in Universal Insurance by 28.9% in the first quarter. Invesco Ltd. now owns 1,173,582 shares of the insurance provider’s stock valued at $15,831,000 after acquiring an additional 263,456 shares in the last quarter. Acadian Asset Management LLC grew its position in Universal Insurance by 250.2% in the third quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock valued at $4,765,000 after acquiring an additional 242,895 shares in the last quarter. Finally, State Street Corp grew its position in Universal Insurance by 22.4% in the first quarter. State Street Corp now owns 1,201,489 shares of the insurance provider’s stock valued at $16,208,000 after acquiring an additional 219,723 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Stock Performance

Universal Insurance stock opened at $19.16 on Wednesday. The stock has a market cap of $555.07 million, a P/E ratio of 8.71 and a beta of 0.83. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $19.07 and a 200-day moving average of $17.00. Universal Insurance Holdings, Inc. has a 52 week low of $11.15 and a 52 week high of $21.75.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.23 by $0.20. The company had revenue of $375.46 million during the quarter, compared to analysts’ expectations of $328.12 million. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. On average, analysts expect that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.34%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is presently 29.09%.

Analysts Set New Price Targets

Several analysts have issued reports on UVE shares. TheStreet raised shares of Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th. StockNews.com upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 4th. Finally, Piper Sandler reiterated an “overweight” rating and set a $25.00 target price on shares of Universal Insurance in a research note on Monday, April 1st.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total transaction of $390,600.00. Following the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.70% of the stock is currently owned by company insiders.

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.