AQR Capital Management LLC Decreases Stock Position in Universal Insurance Holdings Inc $UVE

Key Points

• AQR Capital Management LLC reduced its stock position in Universal Insurance Holdings Inc by 22.6%, now owning approximately 252,323 shares valued at $5.98 million.
• Chairman Sean P. Downes sold 20,000 shares for around $507,000, decreasing his ownership by 1.51% while still retaining 1.3 million shares in the company.
• Universal Insurance announced a quarterly dividend of $0.16 per share, yielding 2.5% with a current dividend payout ratio of 27.95%.

AQR Capital Management LLC cut its holdings in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 22.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 252,323 shares of the insurance provider's stock after selling 73,587 shares during the quarter. AQR Capital Management LLC owned about 0.90% of Universal Insurance worth $5,980,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. EP Wealth Advisors LLC raised its stake in Universal Insurance by 23.1% in the first quarter. EP Wealth Advisors LLC now owns 15,002 shares of the insurance provider's stock valued at $356,000 after buying an additional 2,813 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Universal Insurance in the first quarter valued at about $1,333,000. Graham Capital Management L.P. raised its stake in Universal Insurance by 2.7% in the first quarter. Graham Capital Management L.P. now owns 24,656 shares of the insurance provider's stock valued at $584,000 after buying an additional 653 shares during the last quarter. Quarry LP purchased a new stake in Universal Insurance in the first quarter valued at about $59,000. Finally, State of Wyoming purchased a new stake in Universal Insurance in the first quarter valued at about $64,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance 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 transaction, the chairman owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 16.60% of the company's stock.

Analyst Ratings Changes

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

Universal Insurance Stock Performance

Shares of NYSE:UVE opened at $25.46 on Friday. Universal Insurance Holdings Inc has a 1 year low of $16.50 and a 1 year high of $28.49. The firm has a market capitalization of $720.89 million, a PE ratio of 11.12 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.58 and a quick ratio of 0.58. The business's 50 day moving average price is $24.35 and its 200-day moving average price is $24.42.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 EPS 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 firm had revenue of $596.72 million for the quarter, compared to the consensus estimate of $359.98 million. As a group, equities research analysts expect that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, August 1st were given 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 yield of 2.5%. Universal Insurance's dividend payout ratio (DPR) is presently 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.

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