Deutsche Bank AG Invests $1.10 Million in Universal Insurance Holdings Inc $UVE

Key Points

• Deutsche Bank initiated a $1.10 million position in Universal Insurance Holdings during the second quarter, buying 26,536 shares. Institutional investors collectively own 66.61% of the company.
• Universal Insurance reported quarterly EPS of $1.84, exceeding analyst expectations of $1.57, while revenue totaled $419.38 million. Analysts expect full-year EPS of approximately $4.85.
• The stock recently traded at $43.54, near its 12-month high, and the company maintains a quarterly dividend of $0.16 per share, yielding about 1.5%. Analysts have a “Moderate Buy” consensus rating with a $45 price target.

Deutsche Bank AG bought a new position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,536 shares of the insurance provider's stock, valued at approximately $1,098,000. Deutsche Bank AG owned 0.10% of Universal Insurance as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Universal Insurance by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 2,007,725 shares of the insurance provider's stock valued at $67,861,000 after buying an additional 54,004 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Universal Insurance by 19.8% during the fourth quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider's stock valued at $27,566,000 after acquiring an additional 134,805 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Universal Insurance by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock valued at $19,083,000 after acquiring an additional 69,289 shares during the period. Millennium Management LLC lifted its position in shares of Universal Insurance by 212.3% in the 3rd quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider's stock valued at $15,685,000 after acquiring an additional 405,403 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Universal Insurance by 11.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 506,683 shares of the insurance provider's stock worth $13,326,000 after purchasing an additional 52,187 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.

Universal Insurance Trading Up 0.3%

Universal Insurance stock opened at $43.54 on Monday. The company's fifty day simple moving average is $42.01 and its 200-day simple moving average is $37.96. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.15. Universal Insurance Holdings Inc has a 12 month low of $24.09 and a 12 month high of $45.15. The stock has a market cap of $1.21 billion, a P/E ratio of 5.74 and a beta of 0.72.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.27. The business had revenue of $419.38 million during the quarter, compared to analyst estimates of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. As a group, sell-side analysts forecast that Universal Insurance Holdings Inc will post 4.85 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.5%. Universal Insurance's dividend payout ratio (DPR) is 8.44%.

Analyst Ratings Changes

Several brokerages have issued reports on UVE. Piper Sandler boosted their target price on shares of Universal Insurance from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Wall Street Zen cut Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 9th. Zacks Research downgraded Universal Insurance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Finally, Weiss Ratings raised Universal Insurance from a "buy (b)" rating to a "buy (a-)" rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Universal Insurance has an average rating of "Moderate Buy" and a consensus price target of $45.00.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total transaction of $885,400.00. Following the completion of the sale, the chairman directly owned 1,104,645 shares in the company, valued at $48,902,634.15. The trade was a 1.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 15.00% of the stock is currently owned by corporate insiders.

Universal Insurance Company Profile

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.

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