Bank of New York Mellon Corp Has $5.29 Million Stake in Universal Insurance Holdings, Inc. (NYSE:UVE)

Bank of New York Mellon Corp trimmed its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 11.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,141 shares of the insurance provider’s stock after selling 33,683 shares during the period. Bank of New York Mellon Corp owned about 0.89% of Universal Insurance worth $5,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Universal Insurance by 7.7% in the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock valued at $15,289,000 after purchasing an additional 49,123 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after purchasing an additional 285,338 shares in the last quarter. Barclays PLC lifted its holdings in shares of Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after purchasing an additional 28,278 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Universal Insurance in the third quarter valued at about $636,000. Finally, Jane Street Group LLC lifted its holdings in shares of Universal Insurance by 2,142.1% in the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after purchasing an additional 57,108 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $21.86 on Tuesday. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $23.39. The firm has a market cap of $614.04 million, a price-to-earnings ratio of 8.88 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The stock’s 50-day moving average is $20.28 and its 200-day moving average is $20.79.

Universal Insurance (NYSE:UVE) last released its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. Equities analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 7th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.93%. The ex-dividend date was Friday, March 7th. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s dividend payout ratio is presently 32.16%.

Insider Buying and Selling

In other Universal Insurance news, Director Jon Springer sold 25,000 shares of the business’s stock in a transaction that occurred 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 $7,905,993.64. The trade was a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total value of $441,600.00. Following the transaction, the chairman now directly owns 990,200 shares in the company, valued at approximately $21,863,616. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,000 shares of company stock worth $2,424,450. Corporate 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.