Charles Schwab Investment Management Inc. Has $4.88 Million Stock Position in Universal Insurance Holdings Inc $UVE

Key Points

• Charles Schwab Investment Management Inc. sold 78,139 shares of Universal Insurance Holdings Inc, reducing its stake by 27.5% to approximately 205,724 shares worth $4.88 million.
• Wall Street analysts downgraded Universal Insurance from a "strong-buy" to a "buy" rating, indicating a shift in market sentiment regarding the stock.
• The company reported earnings of $1.23 per share, exceeding analyst expectations, and recently disclosed a quarterly dividend of $0.16 per share, reflecting a 2.6% yield.

Charles Schwab Investment Management Inc. lowered its position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 27.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,724 shares of the insurance provider's stock after selling 78,139 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.73% of Universal Insurance worth $4,876,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UVE. Wells Fargo & Company MN raised its holdings in shares of Universal Insurance by 5.6% during the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider's stock valued at $291,000 after acquiring an additional 732 shares during the period. Barclays PLC raised its holdings in shares of Universal Insurance by 7.1% during the fourth quarter. Barclays PLC now owns 73,857 shares of the insurance provider's stock valued at $1,555,000 after acquiring an additional 4,888 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Universal Insurance by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider's stock valued at $31,510,000 after acquiring an additional 6,250 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Universal Insurance during the fourth quarter valued at approximately $433,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Universal Insurance during the fourth quarter valued at approximately $121,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 25,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $26.91, for a total transaction of $672,750.00. Following the transaction, the chairman owned 926,667 shares in the company, valued at $24,936,608.97. This represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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 1.3%

Universal Insurance stock traded up $0.33 during trading hours on Wednesday, hitting $24.82. The company had a trading volume of 230,185 shares, compared to its average volume of 143,797. The firm has a market capitalization of $702.87 million, a P/E ratio of 10.84 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 firm's fifty day moving average is $24.60 and its 200-day moving average is $24.18. 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 quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.14. The firm had revenue of $596.72 million for 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, research analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Dividend Announcement

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