Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 44.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,803 shares of the insurance provider’s stock after buying an additional 144,647 shares during the period. American Century Companies Inc. owned approximately 1.63% of Universal Insurance worth $8,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Universal Insurance by 11,666.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock worth $1,193,000 after buying an additional 58,214 shares during the period. Boston Partners acquired a new stake in Universal Insurance during the 1st quarter worth about $758,000. Vanguard Group Inc. grew its stake in Universal Insurance by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock valued at $31,384,000 after purchasing an additional 41,425 shares during the last quarter. Highland Capital Management LLC increased its holdings in shares of Universal Insurance by 135.1% in the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after purchasing an additional 43,718 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Universal Insurance by 109.6% in the first quarter. Principal Financial Group Inc. now owns 22,484 shares of the insurance provider’s stock valued at $457,000 after purchasing an additional 11,758 shares during the period. 66.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th.

Universal Insurance Trading Up 0.4 %

Shares of Universal Insurance stock opened at $21.93 on Tuesday. The stock has a market cap of $631.58 million, a PE ratio of 8.60 and a beta of 0.89. The firm has a fifty day moving average price of $20.37 and a 200 day moving average price of $19.73. Universal Insurance Holdings, Inc. has a 1 year low of $13.10 and a 1 year high of $23.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The business had revenue of $380.21 million during the quarter, compared to analyst estimates of $340.09 million. During the same quarter last year, the business posted $0.87 EPS. Equities research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were given a $0.16 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.64 annualized dividend and a yield of 2.92%. Universal Insurance’s dividend payout ratio is presently 25.10%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the sale, the chairman now directly owns 1,122,262 shares of the company’s stock, valued at $22,445,240. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the transaction, the chairman now owns 1,122,262 shares in the company, valued at approximately $22,445,240. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jon Springer sold 35,173 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now owns 473,899 shares in the company, valued at approximately $9,729,146.47. The disclosure for this sale can be found here. Insiders have sold 75,173 shares of company stock valued at $1,571,502 in the last 90 days. 17.50% of the stock is currently owned by company insiders.

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.