Universal Insurance Holdings Inc $UVE Shares Sold by AQR Capital Management LLC

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 stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 22.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 252,323 shares of the insurance provider's stock after selling 73,587 shares during the period. AQR Capital Management LLC owned 0.90% of Universal Insurance worth $5,980,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Universal Insurance during the 1st quarter valued at $59,000. State of Wyoming purchased a new position in Universal Insurance in the first quarter valued at approximately $64,000. Sunbelt Securities Inc. purchased a new position in Universal Insurance in the fourth quarter valued at approximately $118,000. Lazard Asset Management LLC raised its holdings in Universal Insurance by 56.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after buying an additional 2,083 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Universal Insurance by 57.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock valued at $138,000 after buying an additional 2,127 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Universal Insurance Stock Up 1.7%

UVE stock traded up $0.44 during trading on Thursday, reaching $25.74. The stock had a trading volume of 319,934 shares, compared to its average volume of 134,637. Universal Insurance Holdings Inc has a 1-year low of $16.50 and a 1-year high of $28.49. 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 company has a market capitalization of $728.96 million, a P/E ratio of 11.24 and a beta of 0.87. The firm has a fifty day moving average price of $24.37 and a 200 day moving average price of $24.50.

Universal Insurance (NYSE:UVE - Get Free Report) last issued 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 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 analyst estimates of $359.98 million. On average, equities analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Announces Dividend

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

Insider Activity

In other 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 value of $507,000.00. Following the sale, the chairman owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 16.60% of the company's stock.

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.