Inspire Investing LLC Buys Shares of 32,523 Universal Insurance Holdings Inc $UVE

Key Points

• Inspire Investing LLC acquired 32,523 shares of Universal Insurance Holdings Inc, valued at approximately $902,000, during the second quarter, marking a 0.12% ownership stake in the company.
• Several hedge funds increased their holdings in Universal Insurance, with notable increases including Millennium Management LLC raising its stake by 171.5% in the first quarter.
• Brokerages have upgraded Universal Insurance's stock rating, with Wall Street Zen moving it from a "buy" to a "strong-buy" rating in October.

Inspire Investing LLC bought a new stake in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,523 shares of the insurance provider's stock, valued at approximately $902,000. Inspire Investing LLC owned approximately 0.12% of Universal Insurance at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Donald Smith & CO. Inc. lifted its holdings 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 purchasing an additional 116,199 shares during the period. Goldman Sachs Group Inc. increased its stake in Universal Insurance by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock valued at $19,083,000 after purchasing an additional 69,289 shares in the last quarter. American Century Companies Inc. increased its stake in Universal Insurance by 9.8% in the first 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. Millennium Management LLC increased its stake in Universal Insurance by 171.5% in the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock valued at $8,148,000 after purchasing an additional 217,184 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 buying an additional 22,487 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.35, for a total value of $507,000.00. Following the completion of the sale, the chairman owned 1,303,512 shares of the company's stock, valued at approximately $33,044,029.20. This represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UVE. Wall Street Zen upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy".

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $29.07 on Friday. The company's fifty day moving average price is $25.31 and its 200-day moving average price is $25.15. The firm has a market capitalization of $823.26 million, a price-to-earnings ratio of 12.69 and a beta of 0.79. Universal Insurance Holdings Inc has a one year low of $18.54 and a one year high of $30.48. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.58 and a quick ratio of 0.58.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The insurance provider reported $1.23 EPS for the quarter, topping analysts' consensus estimates 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, equities research analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance 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.

Want to see what other hedge funds are holding UVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Insurance Holdings Inc (NYSE:UVE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.