Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 151,215 shares of the insurance provider’s stock after acquiring an additional 31,635 shares during the period. Los Angeles Capital Management LLC owned approximately 0.52% of Universal Insurance worth $2,416,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at approximately $201,000. Teacher Retirement System of Texas lifted its stake in Universal Insurance by 14.2% during the third quarter. Teacher Retirement System of Texas now owns 73,185 shares of the insurance provider’s stock worth $1,026,000 after purchasing an additional 9,093 shares in the last quarter. Olympiad Research LP purchased a new position in shares of Universal Insurance during the third quarter worth $174,000. Islay Capital Management LLC grew its stake in shares of Universal Insurance by 24.1% in the third quarter. Islay Capital Management LLC now owns 54,858 shares of the insurance provider’s stock valued at $769,000 after buying an additional 10,651 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at $140,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total transaction of $394,400.00. Following the completion of the sale, the chairman now owns 1,162,262 shares in the company, valued at $22,919,806.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 17.70% of the stock is owned by insiders.

Universal Insurance Price Performance

UVE stock opened at $20.06 on Tuesday. Universal Insurance Holdings, Inc. has a 1 year low of $11.15 and a 1 year high of $22.38. The firm has a market capitalization of $577.73 million, a P/E ratio of 7.87 and a beta of 0.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.44. The business’s 50-day moving average is $19.72 and its two-hundred day moving average is $17.59.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.20. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. The firm had revenue of $375.46 million for the quarter, compared to analysts’ expectations of $328.12 million. Analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.19%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is presently 25.10%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $25.00 target price on shares of Universal Insurance in a report on Monday, April 1st. StockNews.com raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, TheStreet upgraded shares of Universal Insurance from a “c+” rating to a “b” rating in a research note on Monday, February 26th.

About Universal Insurance

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.