Barclays PLC Increases Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Barclays PLC boosted its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 69.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,969 shares of the insurance provider’s stock after buying an additional 28,278 shares during the quarter. Barclays PLC owned approximately 0.24% of Universal Insurance worth $1,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC purchased a new position in shares of Universal Insurance in the 3rd quarter valued at about $6,322,000. Bank of Montreal Can boosted its holdings 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 valued at $7,040,000 after purchasing an additional 276,700 shares in the last quarter. American Century Companies Inc. increased its stake in Universal Insurance by 44.5% in the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after purchasing an additional 144,647 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in Universal Insurance by 64.6% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 worth $7,698,000 after buying an additional 63,582 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Universal Insurance Trading Down 1.9 %

NYSE:UVE opened at $20.62 on Friday. The company has a market capitalization of $583.26 million, a PE ratio of 8.38 and a beta of 0.92. Universal Insurance Holdings, Inc. has a 52-week low of $15.78 and a 52-week high of $23.39. The stock’s 50 day moving average price is $21.36 and its 200 day moving average price is $20.37. 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 announced its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.30. The business had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period last year, the firm posted ($0.16) earnings per share. On average, research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a $0.13 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.52 annualized dividend and a dividend yield of 2.52%. Universal Insurance’s dividend payout ratio (DPR) is currently 26.02%.

Insider Activity

In related news, Chairman Sean P. Downes sold 15,064 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $22.46, for a total value of $338,337.44. Following the completion of the sale, the chairman now owns 1,047,198 shares in the company, valued at $23,520,067.08. This trade represents a 1.42 % 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 25,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the transaction, the director now directly owns 383,228 shares in the company, valued at $7,905,993.64. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,064 shares of company stock valued at $1,258,287. 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.