A&I Financial Services LLC Invests $558,000 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 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,129 shares of the insurance provider's stock, valued at approximately $558,000. A&I Financial Services LLC owned about 0.07% of Universal Insurance at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Voya Investment Management LLC lifted its position in shares of Universal Insurance by 42.9% during the first quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider's stock worth $1,040,000 after purchasing an additional 13,177 shares during the last quarter. Strs Ohio bought a new stake in shares of Universal Insurance during the first quarter worth $180,000. Jane Street Group LLC lifted its position in shares of Universal Insurance by 73.1% during the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider's stock worth $1,939,000 after purchasing an additional 34,556 shares during the last quarter. Voleon Capital Management LP lifted its position in shares of Universal Insurance by 36.2% during the first quarter. Voleon Capital Management LP now owns 62,292 shares of the insurance provider's stock worth $1,476,000 after purchasing an additional 16,562 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position 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 worth $19,083,000 after purchasing an additional 69,289 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.35, for a total transaction of $507,000.00. Following the sale, the chairman owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.60% of the company's stock.

Wall Street Analyst Weigh In

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

Universal Insurance Stock Performance

UVE stock opened at $25.62 on Friday. The firm has a market cap of $725.53 million, a price-to-earnings ratio of 11.19 and a beta of 0.87. The firm has a 50-day simple moving average of $24.41 and a two-hundred day simple moving average of $24.55. Universal Insurance Holdings Inc has a one year low of $16.50 and a one year high of $28.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.58 and a current ratio of 0.58.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. The business had revenue of $596.72 million during the quarter, compared to analyst estimates of $359.98 million. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. On average, 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 declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. Universal Insurance's payout ratio is presently 27.95%.

Universal Insurance 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.

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