Campbell & CO Investment Adviser LLC Purchases 38,286 Shares of Universal Insurance Holdings Inc $UVE

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Universal Insurance Holdings by 238.0%, acquiring an additional 38,286 shares during the first quarter, bringing its total to 54,375 shares valued at approximately $1.29 million.
• Universal Insurance reported earnings of $1.23 per share for the last quarter, exceeding analysts' expectations of $1.09, along with a significant revenue of $596.72 million.
• The company declared a quarterly dividend of $0.16 per share, resulting in an annualized yield of 2.6% and a payout ratio of 27.95%.

Campbell & CO Investment Adviser LLC boosted its holdings in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 238.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,375 shares of the insurance provider's stock after buying an additional 38,286 shares during the quarter. Campbell & CO Investment Adviser LLC owned approximately 0.19% of Universal Insurance worth $1,289,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Donald Smith & CO. Inc. raised its position in shares of Universal Insurance by 6.8% during the first quarter. Donald Smith & CO. Inc. now owns 1,836,718 shares of the insurance provider's stock worth $43,530,000 after acquiring an additional 116,199 shares during the last quarter. Nuveen LLC bought a new stake in Universal Insurance in the 1st quarter valued at about $2,197,000. Millennium Management LLC increased its holdings in shares of Universal Insurance by 120.6% during the fourth quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider's stock valued at $2,666,000 after acquiring an additional 69,205 shares in the last quarter. American Century Companies Inc. increased its stake in Universal Insurance by 9.8% during the 1st quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider's stock valued at $15,847,000 after purchasing an additional 59,752 shares in the last quarter. Finally, Voleon Capital Management LP bought a new stake in Universal Insurance during the 4th quarter worth approximately $963,000. 66.61% of the stock is owned by institutional investors.

Universal Insurance Price Performance

UVE opened at $24.17 on Wednesday. The firm has a market cap of $684.49 million, a P/E ratio of 10.55 and a beta of 0.87. The firm has a 50-day moving average of $24.86 and a 200 day moving average of $24.03. 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 Holdings Inc has a fifty-two week low of $16.50 and a fifty-two week high of $28.49.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $359.98 million. On average, research analysts expect that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, August 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, August 1st. Universal Insurance's dividend payout ratio is 27.95%.

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 research note on Saturday, August 2nd.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $27.06, for a total transaction of $811,800.00. Following the completion of the transaction, the director directly owned 301,835 shares of the company's stock, valued at approximately $8,167,655.10. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sean P. Downes sold 25,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $26.91, for a total value of $672,750.00. Following the transaction, the chairman owned 926,667 shares of the company's stock, valued at $24,936,608.97. The trade was a 2.63% decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by corporate insiders.

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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