Algert Global LLC Has $1.01 Million Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Algert Global LLC raised its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 15.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,849 shares of the insurance provider’s stock after acquiring an additional 7,099 shares during the quarter. Algert Global LLC owned approximately 0.19% of Universal Insurance worth $1,010,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in UVE. Occidental Asset Management LLC bought a new position in Universal Insurance during the 2nd quarter valued at about $196,000. SG Americas Securities LLC raised its stake 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 acquiring an additional 1,833 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new position in shares of Universal Insurance in the 1st quarter worth approximately $289,000. State Board of Administration of Florida Retirement System bought a new stake in Universal Insurance during the 1st quarter worth approximately $326,000. Finally, Bailard Inc. increased its holdings in Universal Insurance by 33.3% during the 2nd quarter. Bailard Inc. now owns 16,800 shares of the insurance provider’s stock valued at $315,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Analysts Set New Price Targets

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

Universal Insurance Trading Down 0.5 %

Shares of NYSE UVE opened at $21.00 on Friday. Universal Insurance Holdings, Inc. has a 1-year low of $13.10 and a 1-year high of $23.27. The company has a 50-day moving average of $20.72 and a two-hundred day moving average of $19.84. The company has a market cap of $604.80 million, a PE ratio of 8.24 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.03. The firm had revenue of $380.21 million for the quarter, compared to the consensus estimate of $340.09 million. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. During the same quarter in the prior year, the business earned $0.87 EPS. As a group, equities analysts expect that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.64 annualized dividend and a yield of 3.05%. Universal Insurance’s dividend payout ratio is currently 25.10%.

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, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jon Springer sold 35,173 shares of the 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 completion of the transaction, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,173 shares of company stock worth $1,571,502. Company insiders own 17.50% of the company’s stock.

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.