36,056 Shares in Universal Insurance Holdings Inc (NYSE:UVE) Bought by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC made a new investment in Universal Insurance Holdings Inc by purchasing 36,056 shares valued at approximately $855,000, as disclosed in their Form 13F filing.
• A variety of institutional investors increased their positions in Universal Insurance, with Deutsche Bank AG lifting its holdings by 60.9% and GAMMA Investing LLC increasing its position by an astounding 3,499.2%.
• The company reported strong quarterly earnings, with an EPS of $1.23, outperforming analysts' expectations and generating revenue of $596.72 million against projections of $359.98 million.

Informed Momentum Co LLC bought a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 36,056 shares of the insurance provider's stock, valued at approximately $855,000. Informed Momentum Co LLC owned 0.13% of Universal Insurance at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in Universal Insurance during the first quarter valued at approximately $2,197,000. Donald Smith & CO. Inc. lifted its holdings in 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 valued at $43,530,000 after purchasing an additional 116,199 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Universal Insurance by 11.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 217,754 shares of the insurance provider's stock valued at $5,161,000 after purchasing an additional 22,487 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Universal Insurance during the first quarter valued at approximately $148,000. Finally, Mackenzie Financial Corp lifted its holdings in Universal Insurance by 26.7% during the first quarter. Mackenzie Financial Corp now owns 35,728 shares of the insurance provider's stock valued at $847,000 after purchasing an additional 7,528 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 25,000 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $26.91, for a total value of $672,750.00. Following the sale, the chairman owned 926,667 shares in the company, valued at approximately $24,936,608.97. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Springer sold 30,000 shares of the business's 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 sale, the director owned 301,835 shares in the company, valued at $8,167,655.10. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock worth $2,011,350 in the last 90 days. 16.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd.

Universal Insurance Price Performance

NYSE:UVE traded down $0.20 during trading hours on Thursday, hitting $24.36. 152,668 shares of the stock traded hands, compared to its average volume of 268,379. 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 Holdings Inc has a 1 year low of $16.50 and a 1 year high of $28.49. The company has a market cap of $689.90 million, a price-to-earnings ratio of 10.64 and a beta of 0.87. The stock has a 50 day moving average price of $25.27 and a 200 day moving average price of $23.75.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Thursday, July 24th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $359.98 million. Sell-side analysts forecast that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, August 1st were given 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 payout ratio 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.