A&I Financial Services LLC Purchases New Position in Universal Insurance Holdings Inc $UVE

Key Points

• A&I Financial Services LLC purchased a new stake in Universal Insurance Holdings Inc for approximately $558,000 in the second quarter, acquiring 20,129 shares, which represents about 0.07% of the company.
• Universal Insurance reported a quarterly earnings per share (EPS) of $1.23, surpassing estimates by $0.14, and generated revenues of $596.72 million for the quarter.
• The company has recently declared a quarterly dividend of $0.16 per share, yielding 2.5% annually, with a payout ratio currently at 27.95%.

A&I Financial Services LLC bought a new position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,129 shares of the insurance provider's stock, valued at approximately $558,000. A&I Financial Services LLC owned approximately 0.07% of Universal Insurance at the end of the most recent quarter.

A number of other large investors have also modified their holdings of UVE. Donald Smith & CO. Inc. raised its position in Universal Insurance by 6.8% in the first quarter. Donald Smith & CO. Inc. now owns 1,836,718 shares of the insurance provider's stock valued at $43,530,000 after purchasing an additional 116,199 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Universal Insurance by 9.4% during 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. American Century Companies Inc. grew its stake in shares of Universal Insurance by 9.8% during the first quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider's stock valued at $15,847,000 after acquiring an additional 59,752 shares in the last quarter. Millennium Management LLC grew its stake 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 valued at $8,148,000 after acquiring an additional 217,184 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Universal Insurance by 11.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 217,754 shares of the insurance provider's stock valued at $5,161,000 after acquiring an additional 22,487 shares in the last quarter. 66.61% of the stock is owned by hedge funds and other institutional investors.

Universal Insurance Price Performance

NYSE:UVE traded down $0.04 during midday trading on Tuesday, hitting $25.76. 64,039 shares of the stock were exchanged, compared to its average volume of 207,111. Universal Insurance Holdings Inc has a one year low of $16.50 and a one year high of $28.49. The company has a market capitalization of $729.44 million, a price-to-earnings ratio of 11.26 and a beta of 0.87. The business has a 50-day moving average price of $24.44 and a two-hundred day moving average price of $24.60. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22.

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 the consensus estimate of $1.09 by $0.14. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. The firm had revenue of $596.72 million for the quarter, compared to analysts' expectations of $359.98 million. Sell-side analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were issued a dividend of $0.16 per share. The ex-dividend date was Friday, August 1st. This represents a $0.64 annualized dividend and a dividend yield of 2.5%. Universal Insurance's payout ratio is presently 27.95%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd.

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.35, for a total transaction of $507,000.00. Following the sale, the chairman directly owned 1,303,512 shares of the company's stock, valued at approximately $33,044,029.20. This represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 17.50% of the company's stock.

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.