Fmr LLC Boosts Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Fmr LLC grew its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 135.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,114 shares of the insurance provider’s stock after acquiring an additional 18,501 shares during the period. Fmr LLC owned about 0.11% of Universal Insurance worth $712,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company bought a new position in Universal Insurance during the third quarter valued at $206,000. Algert Global LLC increased its position in Universal Insurance by 46.8% during the 3rd quarter. Algert Global LLC now owns 79,059 shares of the insurance provider’s stock valued at $1,752,000 after purchasing an additional 25,210 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 acquiring an additional 63,582 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Universal Insurance by 16.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,232 shares of the insurance provider’s stock worth $3,861,000 after purchasing an additional 24,919 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Universal Insurance in the third quarter valued at approximately $202,000. 66.61% of the stock is currently owned by institutional investors.

Universal Insurance Stock Performance

NYSE UVE opened at $21.13 on Wednesday. The company has a fifty day moving average of $21.04 and a 200 day moving average of $20.28. The company has a market capitalization of $597.68 million, a PE ratio of 8.59 and a beta of 0.92. Universal Insurance Holdings, Inc. has a 1 year low of $15.78 and a 1 year high of $23.39. 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 released 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 company had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a dividend of $0.13 per share. The ex-dividend date was Friday, December 6th. This represents a $0.52 annualized dividend and a yield of 2.46%. Universal Insurance’s dividend payout ratio (DPR) is presently 26.02%.

Analyst Ratings Changes

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

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on 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 sale, the chairman now owns 1,062,262 shares of the company’s stock, valued at $21,468,315.02. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 55,064 shares of company stock worth $1,191,937. Insiders own 17.50% of the company’s stock.

About Universal Insurance

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.