State Street Corp Has $13.33 Million Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

State Street Corp lifted its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 601,697 shares of the insurance provider’s stock after acquiring an additional 978 shares during the period. State Street Corp owned approximately 2.13% of Universal Insurance worth $13,334,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. CWA Asset Management Group LLC bought a new position in shares of Universal Insurance in the third quarter valued at approximately $6,322,000. Bank of Montreal Can boosted its position in Universal Insurance by 283.0% in the second 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 during the last quarter. American Century Companies Inc. increased its holdings in Universal Insurance by 44.5% during the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock worth $8,814,000 after buying an additional 144,647 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Universal Insurance by 64.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock worth $4,468,000 after purchasing an additional 79,138 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after purchasing an additional 63,582 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Insider Activity

In other news, Director Jon Springer sold 25,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the transaction, the director now owns 383,228 shares of the company’s stock, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Sean P. Downes sold 15,064 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $22.46, for a total transaction of $338,337.44. Following the transaction, the chairman now owns 1,047,198 shares in the company, valued at approximately $23,520,067.08. This represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,064 shares of company stock worth $1,258,287 over the last quarter. Insiders own 17.50% of the company’s stock.

Universal Insurance Stock Performance

NYSE:UVE opened at $20.97 on Thursday. Universal Insurance Holdings, Inc. has a twelve month low of $15.78 and a twelve month high of $23.39. The stock has a market cap of $593.16 million, a P/E ratio of 8.52 and a beta of 0.92. The firm’s fifty day simple moving average is $21.33 and its 200 day simple moving average is $20.35. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. The company had revenue of $387.55 million for the quarter, compared to analysts’ expectations 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 firm posted ($0.16) earnings per share. As a group, research analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The firm 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 2.48%. The ex-dividend date was Friday, December 6th. Universal Insurance’s dividend payout ratio (DPR) is 26.02%.

Analyst Upgrades and Downgrades

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

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.