56,258 Shares in Universal Insurance Holdings Inc $UVE Bought by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC has acquired a new position in Universal Insurance Holdings Inc, purchasing 56,258 shares valued at approximately $1.33 million, representing around 0.20% ownership of the company.
• Universal Insurance reported a quarterly EPS of $1.23, exceeding analyst estimates, and declared a dividend of $0.16, indicating a 2.6% yield based on an annualized basis.
• Following recent trades, including a significant sale by the chairman, institutional investors currently own 66.61% of Universal Insurance's stock.

Cubist Systematic Strategies LLC acquired a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 56,258 shares of the insurance provider's stock, valued at approximately $1,333,000. Cubist Systematic Strategies LLC owned 0.20% of Universal Insurance at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Universal Insurance during the first quarter worth approximately $59,000. State of Wyoming bought a new stake in Universal Insurance during the first quarter worth approximately $64,000. Sunbelt Securities Inc. bought a new stake in Universal Insurance during the fourth quarter worth approximately $118,000. Lazard Asset Management LLC boosted its stake in Universal Insurance by 56.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock worth $121,000 after purchasing an additional 2,083 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Universal Insurance by 57.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock worth $138,000 after purchasing an additional 2,127 shares during the period. 66.61% of the stock is currently owned by 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 research note on Saturday, August 2nd.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Thursday, September 4th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.60% of the company's stock.

Universal Insurance Stock Down 0.8%

Shares of NYSE:UVE traded down $0.20 during trading on Friday, reaching $25.46. 104,901 shares of the company traded hands, compared to its average volume of 137,037. The firm has a fifty day simple moving average of $24.35 and a 200 day simple moving average of $24.42. The firm has a market cap of $720.89 million, a P/E ratio of 11.12 and a beta of 0.87. Universal Insurance Holdings Inc has a 1-year low of $16.50 and a 1-year high of $28.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.22.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, July 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.14. The company had revenue of $596.72 million during 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%. Analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were issued 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 dividend yield of 2.5%. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

About Universal Insurance

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.