Aigen Investment Management LP Makes New $296,000 Investment in Universal Insurance Holdings, Inc. (NYSE:UVE)

Aigen Investment Management LP acquired a new position in Universal Insurance Holdings, Inc. (NYSE:UVE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,528 shares of the insurance provider’s stock, valued at approximately $296,000. Aigen Investment Management LP owned about 0.06% of Universal Insurance at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of UVE. Teacher Retirement System of Texas boosted its position in Universal Insurance by 14.2% in 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 during the last quarter. Versor Investments LP purchased a new position in Universal Insurance in the third quarter worth $140,000. Jump Financial LLC boosted its position in Universal Insurance by 199.6% in the third quarter. Jump Financial LLC now owns 72,868 shares of the insurance provider’s stock worth $1,022,000 after purchasing an additional 48,546 shares during the last quarter. Barclays PLC boosted its position in Universal Insurance by 189.9% in the third quarter. Barclays PLC now owns 76,356 shares of the insurance provider’s stock worth $1,070,000 after purchasing an additional 50,014 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in Universal Insurance by 387.3% in the third quarter. Quantbot Technologies LP now owns 38,718 shares of the insurance provider’s stock worth $543,000 after purchasing an additional 30,773 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Stock Performance

NYSE:UVE opened at $19.57 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.44 and a current ratio of 0.44. Universal Insurance Holdings, Inc. has a 52-week low of $11.15 and a 52-week high of $22.38. The firm has a market cap of $563.62 million, a price-to-earnings ratio of 7.67 and a beta of 0.84. The business’s fifty day moving average is $19.78 and its 200 day moving average is $18.07.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. The company had revenue of $367.96 million for the quarter, compared to analyst estimates of $336.09 million. Research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were paid a $0.16 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 3.27%. Universal Insurance’s dividend payout ratio is currently 25.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price target on shares of Universal Insurance in a research report on Monday, April 1st. Finally, TheStreet raised Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at approximately $23,267,846.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Universal Insurance news, Director Michael Pietrangelo sold 12,351 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $20.43, for a total value of $252,330.93. Following the transaction, the director now directly owns 80,074 shares in the company, valued at approximately $1,635,911.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the completion of the transaction, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The disclosure for this sale can be found here. Insiders have sold 52,351 shares of company stock worth $1,037,331 in the last ninety days. 17.50% of the stock is currently owned by insiders.

Universal Insurance Company 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.