Quarry LP Buys 1,129 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Quarry LP lifted its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 424.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,395 shares of the insurance provider’s stock after acquiring an additional 1,129 shares during the quarter. Quarry LP’s holdings in Universal Insurance were worth $26,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in Universal Insurance during the first quarter valued at approximately $289,000. Allspring Global Investments Holdings LLC increased its position in 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 acquiring an additional 58,214 shares during the period. Principal Financial Group Inc. grew its position in Universal Insurance by 109.6% in the 1st quarter. Principal Financial Group Inc. now owns 22,484 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 11,758 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Universal Insurance by 31.7% during the 1st quarter. BNP Paribas Financial Markets now owns 19,875 shares of the insurance provider’s stock worth $404,000 after purchasing an additional 4,781 shares during the period. Finally, LSV Asset Management raised its position in shares of Universal Insurance by 6.8% during the first quarter. LSV Asset Management now owns 313,902 shares of the insurance provider’s stock valued at $6,378,000 after buying an additional 19,900 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Stock Down 19.6 %

NYSE UVE opened at $16.89 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market cap of $486.43 million, a PE ratio of 6.62 and a beta of 0.89. Universal Insurance Holdings, Inc. has a one year low of $13.28 and a one year high of $23.27. The stock’s 50 day simple moving average is $20.70 and its 200 day simple moving average is $19.83.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. The firm had revenue of $380.21 million during the quarter, compared to analysts’ expectations of $340.09 million. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, sell-side analysts forecast that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 3.79%. Universal Insurance’s payout ratio is presently 25.10%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares in the company, valued at $24,318,427.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the sale, the chairman now directly owns 1,082,262 shares in the company, valued at $24,318,427.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jon Springer sold 35,173 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the transaction, the director now owns 473,899 shares of the company’s stock, valued at approximately $9,729,146.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,173 shares of company stock valued at $1,571,502. Company insiders own 17.50% of the company’s stock.

About Universal Insurance

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.