Acadian Asset Management LLC decreased its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,965 shares of the insurance provider's stock after selling 62,389 shares during the quarter. Acadian Asset Management LLC owned approximately 0.27% of Universal Insurance worth $1,823,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Universal Insurance during the 1st quarter worth about $59,000. State of Wyoming acquired a new position in shares of Universal Insurance during the 1st quarter worth about $64,000. Sunbelt Securities Inc. acquired a new position in shares of Universal Insurance during the 4th quarter worth about $118,000. Lazard Asset Management LLC boosted its position in shares of Universal Insurance by 56.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock worth $121,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Universal Insurance by 57.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock worth $138,000 after acquiring an additional 2,127 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd.
Read Our Latest Analysis on UVE
Insiders Place Their Bets
In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.35, for a total transaction of $507,000.00. Following the completion of the sale, the chairman directly owned 1,303,512 shares of the company's stock, valued at approximately $33,044,029.20. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.60% of the company's stock.
Universal Insurance Stock Performance
Shares of NYSE UVE traded down $0.09 during trading hours on Friday, reaching $25.62. The stock had a trading volume of 251,944 shares, compared to its average volume of 145,752. The firm has a 50-day moving average of $24.41 and a 200-day moving average of $24.53. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. The firm has a market cap of $725.56 million, a price-to-earnings ratio of 11.19 and a beta of 0.87. Universal Insurance Holdings Inc has a fifty-two week low of $16.50 and a fifty-two week high of $28.49.
Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.09 by $0.14. Universal Insurance had a return on equity of 15.37% and a net margin of 4.24%.The company had revenue of $596.72 million during the quarter, compared to analysts' expectations of $359.98 million. Equities research analysts predict that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.
Universal Insurance Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, August 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, August 1st. Universal Insurance's dividend payout ratio (DPR) is presently 27.95%.
About Universal Insurance
(
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.
Further Reading
Before you consider Universal Insurance, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Universal Insurance wasn't on the list.
While Universal Insurance currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
