Quantbot Technologies LP Boosts Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Quantbot Technologies LP grew its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 45,981.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,069 shares of the insurance provider’s stock after buying an additional 5,058 shares during the period. Quantbot Technologies LP’s holdings in Universal Insurance were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. 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. The Manufacturers Life Insurance Company acquired a new position in Universal Insurance in the third quarter valued at $206,000. FMR LLC grew its holdings in shares of Universal Insurance by 135.9% during the third quarter. FMR LLC now owns 32,114 shares of the insurance provider’s stock worth $712,000 after purchasing an additional 18,501 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Universal Insurance by 80.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock valued at $2,946,000 after purchasing an additional 59,290 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Universal Insurance in the 3rd quarter valued at about $338,000. 66.61% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Trading Up 1.5 %

Shares of Universal Insurance stock opened at $23.69 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $665.62 million, a P/E ratio of 9.63 and a beta of 0.84. Universal Insurance Holdings, Inc. has a 1 year low of $16.50 and a 1 year high of $24.04. The company’s fifty day moving average is $20.85 and its two-hundred day moving average is $20.88.

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

Universal Insurance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 7th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s dividend payout ratio is 32.16%.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now directly owns 990,200 shares of the company’s stock, valued at $21,863,616. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 26th.

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.