Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Purchased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC raised its position in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 234,995 shares of the insurance provider's stock after purchasing an additional 25,423 shares during the quarter. Beacon Pointe Advisors LLC owned 0.83% of Universal Insurance worth $4,949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UVE. CWA Asset Management Group LLC increased its position in Universal Insurance by 100.0% during the 4th 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 during the period. American Century Companies Inc. increased its holdings in Universal Insurance by 10.4% during the fourth quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock valued at $12,823,000 after buying an additional 57,424 shares during the period. Nisa Investment Advisors LLC raised its stake in Universal Insurance by 128,888.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider's stock worth $1,222,000 after buying an additional 58,000 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Universal Insurance by 35.7% during the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock worth $3,263,000 after buying an additional 38,767 shares during the period. Finally, Rhumbline Advisers boosted its position in Universal Insurance by 62.5% during the 4th quarter. Rhumbline Advisers now owns 61,935 shares of the insurance provider's stock valued at $1,304,000 after acquiring an additional 23,830 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company's stock.

Universal Insurance Price Performance

UVE traded up $0.50 during trading on Monday, hitting $25.74. The company's stock had a trading volume of 114,508 shares, compared to its average volume of 178,865. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $725.47 million, a price-to-earnings ratio of 10.46 and a beta of 0.76. The business's fifty day simple moving average is $22.52 and its 200 day simple moving average is $21.32. Universal Insurance Holdings, Inc. has a twelve month low of $16.50 and a twelve month high of $25.74.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, beating analysts' consensus estimates 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, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, May 9th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.49%. Universal Insurance's payout ratio is 27.95%.

Insider Activity

In other Universal Insurance news, 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 sale, the chairman now owns 990,200 shares of the company's stock, valued at $21,863,616. The trade was a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th.

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.