AQR Capital Management LLC increased its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 325,910 shares of the insurance provider's stock after buying an additional 11,623 shares during the quarter. AQR Capital Management LLC owned 1.15% of Universal Insurance worth $6,864,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. KLP Kapitalforvaltning AS bought a new position in Universal Insurance in the fourth quarter valued at about $103,000. Quantbot Technologies LP raised its position in Universal Insurance by 45,981.8% in the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 5,058 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Universal Insurance in the fourth quarter valued at about $121,000. Victory Capital Management Inc. bought a new position in Universal Insurance in the fourth quarter valued at about $240,000. Finally, Wells Fargo & Company MN raised its position in Universal Insurance by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider's stock valued at $291,000 after purchasing an additional 732 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors.
Universal Insurance Trading Up 1.2%
Shares of UVE traded up $0.31 during mid-day trading on Tuesday, reaching $26.08. 52,503 shares of the company were exchanged, compared to its average volume of 182,310. Universal Insurance Holdings, Inc. has a 52 week low of $16.50 and a 52 week high of $26.51. 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 stock has a market capitalization of $734.02 million, a PE ratio of 10.60 and a beta of 0.83. The business has a 50 day simple moving average of $22.95 and a two-hundred day simple moving average of $21.57.
Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.12 by $0.32. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $394.87 million during the quarter, compared to analysts' expectations of $354.97 million. On average, analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.45%. Universal Insurance's dividend payout ratio is currently 27.95%.
Insider Buying and Selling
In related news, Director Jon Springer sold 26,393 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total transaction of $675,924.73. Following the completion of the sale, the director now owns 331,835 shares of the company's stock, valued at $8,498,294.35. This trade represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the firm'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 sale, 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 position. The disclosure for this sale can be found here. Insiders sold 66,393 shares of company stock valued at $1,559,125 over the last 90 days. Company insiders own 16.60% of the company's stock.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th.
Check Out Our Latest Stock Analysis on UVE
Universal Insurance Profile
(
Free Report)
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.
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