Geode Capital Management LLC Purchases 49,123 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Geode Capital Management LLC increased its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 689,767 shares of the insurance provider’s stock after buying an additional 49,123 shares during the period. Geode Capital Management LLC owned about 2.44% of Universal Insurance worth $15,289,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of UVE. CWM LLC increased its stake in Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 723 shares in the last quarter. Quarry LP raised its holdings in shares of Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 776 shares during the last quarter. Covestor Ltd lifted its position in shares of Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 1,328 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Universal Insurance by 11.0% during the second quarter. Principal Financial Group Inc. now owns 24,963 shares of the insurance provider’s stock worth $468,000 after purchasing an additional 2,479 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Universal Insurance by 1.8% during the second quarter. Marshall Wace LLP now owns 235,801 shares of the insurance provider’s stock valued at $4,424,000 after acquiring an additional 4,140 shares during the last quarter. 66.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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, Director Jon Springer sold 25,000 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the transaction, the director now owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,062,262 shares of the company’s stock, valued at $21,468,315.02. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,064 shares of company stock valued at $1,258,287. 17.50% of the stock is owned by company insiders.

Universal Insurance Price Performance

NYSE:UVE opened at $20.62 on Monday. The business’s 50-day moving average is $21.36 and its 200 day moving average is $20.38. Universal Insurance Holdings, Inc. has a 12 month low of $15.78 and a 12 month high of $23.39. The company has a market capitalization of $583.26 million, a P/E ratio of 8.38 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

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

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were issued 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 presently 26.02%.

Universal Insurance Company 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.