Point72 Asia Singapore Pte. Ltd. Cuts Stake in Universal Insurance Holdings, Inc. (NYSE:UVE)

Point72 Asia Singapore Pte. Ltd. cut its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 42.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,918 shares of the insurance provider’s stock after selling 10,966 shares during the quarter. Point72 Asia Singapore Pte. Ltd. owned about 0.05% of Universal Insurance worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Quarry LP raised its holdings in shares of Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,129 shares during the last quarter. Occidental Asset Management LLC acquired a new stake in Universal Insurance during the 2nd quarter worth about $196,000. SG Americas Securities LLC increased its holdings in shares of Universal Insurance by 17.4% in the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,833 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Universal Insurance in the first quarter worth about $289,000. Finally, Bailard Inc. lifted its holdings in shares of Universal Insurance by 33.3% during the second quarter. Bailard Inc. now owns 16,800 shares of the insurance provider’s stock worth $315,000 after purchasing an additional 4,200 shares during the period. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Price Performance

Shares of UVE opened at $21.51 on Wednesday. The business’s 50-day moving average is $20.62 and its two-hundred day moving average is $19.80. The company has a market capitalization of $612.60 million, a P/E ratio of 8.44 and a beta of 0.89. Universal Insurance Holdings, Inc. has a fifty-two week low of $13.10 and a fifty-two week high of $23.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 0.54.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The firm had revenue of $380.21 million for the quarter, compared to analyst estimates of $340.09 million. During the same period last year, the company earned $0.87 earnings per share. Research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 2.98%. Universal Insurance’s dividend payout ratio is currently 25.10%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Monday, August 5th.

Insider Activity

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the chairman now directly owns 1,122,262 shares in the company, valued at $22,445,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Universal Insurance news, Director Jon Springer sold 35,173 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now owns 473,899 shares of the company’s stock, valued at $9,729,146.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, the chairman now owns 1,122,262 shares of the company’s stock, valued at $22,445,240. The disclosure for this sale can be found here. Insiders have sold a total of 75,173 shares of company stock worth $1,571,502 over the last 90 days. 17.50% 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.