Principal Financial Group Inc. Sells 10,819 Shares of Universal Co. (NYSE:UVV)

Principal Financial Group Inc. reduced its stake in Universal Co. (NYSE:UVV) by 8.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 116,362 shares of the company’s stock after selling 10,819 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Universal worth $6,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Universal by 82.6% during the third quarter. GAMMA Investing LLC now owns 672 shares of the company’s stock valued at $36,000 after buying an additional 304 shares during the last quarter. AlphaMark Advisors LLC grew its stake in shares of Universal by 41.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 850 shares of the company’s stock worth $41,000 after buying an additional 250 shares in the last quarter. nVerses Capital LLC purchased a new position in Universal in the second quarter worth about $43,000. Canada Pension Plan Investment Board bought a new stake in shares of Universal in the 2nd quarter valued at approximately $48,000. Finally, Blue Trust Inc. boosted its holdings in shares of Universal by 145.2% in the 2nd quarter. Blue Trust Inc. now owns 1,030 shares of the company’s stock worth $53,000 after purchasing an additional 610 shares during the period. 81.00% of the stock is currently owned by hedge funds and other institutional investors.

Universal Stock Down 0.1 %

Shares of UVV opened at $54.88 on Thursday. The company has a quick ratio of 0.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.43. Universal Co. has a 52-week low of $45.19 and a 52-week high of $67.80. The company has a market cap of $1.36 billion, a PE ratio of 11.29 and a beta of 0.77. The business has a fifty day moving average of $51.90 and a 200 day moving average of $51.01.

Universal Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 5.90%. The ex-dividend date is Monday, January 13th. Universal’s payout ratio is currently 66.67%.

Universal announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 7.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Universal Profile

Universal Corporation processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments, Tobacco Operations; and Ingredients Operations. It is involved in the procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.