BNP Paribas Financial Markets Lowers Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

BNP Paribas Financial Markets lowered its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 105,749 shares of the insurance provider's stock after selling 27,190 shares during the period. BNP Paribas Financial Markets owned about 0.37% of Universal Insurance worth $2,227,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new stake in Universal Insurance in the fourth quarter valued at $103,000. Quantbot Technologies LP increased its stake in shares of 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 buying an additional 5,058 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of Universal Insurance in the fourth quarter valued at about $121,000. Victory Capital Management Inc. bought a new position in shares of Universal Insurance during the fourth quarter worth about $240,000. Finally, Wells Fargo & Company MN raised its position in shares of Universal Insurance by 5.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider's stock worth $291,000 after acquiring an additional 732 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Jon Springer sold 26,393 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total value of $675,924.73. Following the completion of the sale, the director now directly owns 331,835 shares of the company's stock, valued at $8,498,294.35. The trade was a 7.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.34, for a total value of $526,800.00. Following the completion of the transaction, the chairman now owns 951,667 shares in the company, valued at approximately $25,066,908.78. The trade was a 2.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,393 shares of company stock valued at $2,085,925 over the last 90 days. Company insiders own 16.60% of the company's stock.

Universal Insurance Trading Down 0.8%

Shares of NYSE:UVE traded down $0.21 during trading on Thursday, reaching $26.34. The stock had a trading volume of 7,715 shares, compared to its average volume of 185,707. Universal Insurance Holdings, Inc. has a 52 week low of $16.50 and a 52 week high of $27.28. 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 firm's fifty day moving average is $23.67 and its 200 day moving average is $21.85. The stock has a market cap of $741.20 million, a price-to-earnings ratio of 10.71 and a beta of 0.83.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.32. The business had revenue of $394.87 million for the quarter, compared to analyst estimates of $354.97 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. As a group, equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were given a dividend of $0.16 per share. The ex-dividend date was Friday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 2.43%. Universal Insurance's payout ratio is 27.95%.

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.