51,636 Shares in Universal Insurance Holdings Inc $UVE Acquired by Pursuit Wealth Management LLC

Key Points

• Pursuit Wealth Management initiated a new stake in Universal Insurance (NYSE:UVE), buying 51,636 shares worth about $1.745 million — roughly 0.18% of UVE and the 16th largest holding in Pursuit’s portfolio (about 1.5% of its assets).
• Universal posted a strong quarter with EPS of $2.17 vs. $1.30 expected and revenue of $403.6M, declared a $0.16 quarterly dividend ($0.64 annual, 1.9% yield), and shows a return on equity of 37.28%.
• Insiders sold shares recently (CAO sold 879 shares; Chairman sold 20,000 shares), institutional investors own about 66.61% of the stock, and analysts hold a consensus Buy rating with a $40 target.

Pursuit Wealth Management LLC purchased a new stake in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 51,636 shares of the insurance provider's stock, valued at approximately $1,745,000. Universal Insurance accounts for about 1.5% of Pursuit Wealth Management LLC's holdings, making the stock its 16th largest holding. Pursuit Wealth Management LLC owned approximately 0.18% of Universal Insurance at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UVE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Universal Insurance by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider's stock valued at $331,000 after purchasing an additional 630 shares during the period. Millennium Management LLC grew its position in shares of Universal Insurance by 171.5% during the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock worth $8,148,000 after buying an additional 217,184 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Universal Insurance by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock valued at $19,083,000 after acquiring an additional 69,289 shares in the last quarter. Jane Street Group LLC boosted its stake in Universal Insurance by 73.1% during the 1st quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider's stock valued at $1,939,000 after acquiring an additional 34,556 shares during the last quarter. Finally, Strs Ohio bought a new position in Universal Insurance during the 1st quarter valued at $180,000. Hedge funds and other institutional investors own 66.61% of the company's stock.

Insider Activity at Universal Insurance

In other Universal Insurance news, CAO Kimberly D. Campos sold 879 shares of the company's stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $33.84, for a total value of $29,745.36. Following the transaction, the chief accounting officer owned 7,422 shares of the company's stock, valued at approximately $251,160.48. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $34.60, for a total value of $692,000.00. Following the sale, the chairman owned 1,206,788 shares of the company's stock, valued at $41,754,864.80. This trade represents a 1.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 16.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Zacks Research upgraded shares of Universal Insurance from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Piper Sandler increased their price objective on shares of Universal Insurance from $35.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Saturday, December 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, Universal Insurance presently has a consensus rating of "Buy" and a consensus target price of $40.00.

Universal Insurance Stock Up 0.6%

Shares of NYSE:UVE opened at $34.36 on Thursday. The stock has a market capitalization of $962.35 million, a price-to-earnings ratio of 5.45 and a beta of 0.69. Universal Insurance Holdings Inc has a 1-year low of $21.96 and a 1-year high of $36.68. The company's fifty day moving average is $33.47 and its two-hundred day moving average is $32.13. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The insurance provider reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.87. Universal Insurance had a net margin of 11.41% and a return on equity of 37.28%. The company had revenue of $403.57 million during the quarter, compared to the consensus estimate of $372.99 million. Equities analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be given a $0.16 dividend. The ex-dividend date is Friday, May 8th. This represents a $0.64 annualized dividend and a yield of 1.9%. Universal Insurance's payout ratio is 10.14%.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc NYSE: UVE is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.

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