Bank of America Corp DE increased its holdings in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,557 shares of the insurance provider's stock after acquiring an additional 45,224 shares during the quarter. Bank of America Corp DE owned about 0.51% of Universal Insurance worth $4,904,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock worth $74,000 after buying an additional 2,114 shares during the last quarter. Parallel Advisors LLC raised its holdings in Universal Insurance by 4,847.3% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider's stock worth $93,000 after acquiring an additional 2,666 shares during the last quarter. Archer Investment Corp purchased a new position in Universal Insurance in the 1st quarter worth approximately $95,000. IFP Advisors Inc lifted its position in Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider's stock valued at $95,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in Universal Insurance by 170,750.0% during the 1st quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider's stock valued at $117,000 after purchasing an additional 3,415 shares during the last quarter. Institutional investors own 66.61% of the company's stock.
Universal Insurance Price Performance
Shares of NYSE UVE opened at $43.54 on Friday. Universal Insurance Holdings Inc has a fifty-two week low of $24.09 and a fifty-two week high of $45.15. The company has a market cap of $1.21 billion, a PE ratio of 5.74 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 0.57. The business has a 50-day simple moving average of $42.01 and a two-hundred day simple moving average of $37.91.
Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.27. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%.The company had revenue of $419.38 million for the quarter, compared to the consensus estimate of $614.62 million. As a group, equities analysts expect that Universal Insurance Holdings Inc will post 4.85 EPS for the current fiscal year.
Universal Insurance Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, July 31st. Universal Insurance's dividend payout ratio is 8.44%.
Insider Activity at Universal Insurance
In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total transaction of $885,400.00. Following the transaction, the chairman owned 1,104,645 shares of the company's stock, valued at approximately $48,902,634.15. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 15.00% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on UVE shares. Wall Street Zen cut shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 9th. Zacks Research downgraded shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of Universal Insurance from a "buy (b)" rating to a "buy (a-)" rating in a research report on Monday, August 17th. Finally, Piper Sandler upped their price objective on Universal Insurance from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Universal Insurance has a consensus rating of "Moderate Buy" and a consensus target price of $45.00.
View Our Latest Stock Report on Universal Insurance
About Universal Insurance
(
Free Report)
Universal Insurance Holdings, Inc NYSE: UVE is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.
In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.
See Also
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