9,274 Shares in Universal Insurance Holdings, Inc. (NYSE:UVE) Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in Universal Insurance Holdings, Inc. (NYSE:UVE) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,274 shares of the insurance provider’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently bought and sold shares of UVE. American Century Companies Inc. increased its stake in shares of Universal Insurance by 44.5% in the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock worth $8,814,000 after acquiring an additional 144,647 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Universal Insurance by 283.0% during the 2nd quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock worth $7,040,000 after purchasing an additional 276,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Universal Insurance by 22.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after buying an additional 63,582 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Universal Insurance by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,379 shares of the insurance provider’s stock valued at $5,635,000 after buying an additional 13,856 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Universal Insurance in the third quarter worth approximately $6,322,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

Universal Insurance Price Performance

NYSE UVE opened at $21.13 on Tuesday. Universal Insurance Holdings, Inc. has a fifty-two week low of $15.78 and a fifty-two week high of $23.39. The stock’s 50-day moving average is $21.04 and its two-hundred day moving average is $20.28. The firm has a market cap of $597.68 million, a P/E ratio of 8.59 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. The business had revenue of $387.55 million for the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period last year, the business earned ($0.16) EPS. On average, analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Friday, December 6th. Universal Insurance’s payout ratio is 26.02%.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the completion of the transaction, the chairman now owns 1,062,262 shares of the company’s stock, valued at approximately $21,468,315.02. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 55,064 shares of company stock valued at $1,191,937. 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.