Invesco Ltd. Has $4.27 Million Position in Universal Insurance Holdings Inc $UVE

Key Points

• Invesco Ltd. sold 24,541 shares of Universal Insurance, reducing its ownership by 12% to 179,981 shares, valued at approximately $4.27 million.
• Universal Insurance reported a quarterly earnings per share (EPS) of $1.23, exceeding estimates by $0.14, with revenues of $596.72 million.
• The company recently declared a quarterly dividend of $0.16 per share, translating to an annualized yield of 2.6%.

Invesco Ltd. lessened its stake in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 12.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,981 shares of the insurance provider's stock after selling 24,541 shares during the quarter. Invesco Ltd. owned about 0.64% of Universal Insurance worth $4,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Unison Advisors LLC increased its position in Universal Insurance by 1.5% in the 1st quarter. Unison Advisors LLC now owns 37,991 shares of the insurance provider's stock valued at $900,000 after acquiring an additional 557 shares in the last quarter. Victory Capital Management Inc. increased its position in Universal Insurance by 4.9% in the 1st quarter. Victory Capital Management Inc. now owns 11,971 shares of the insurance provider's stock valued at $284,000 after acquiring an additional 563 shares in the last quarter. Principal Financial Group Inc. increased its position in Universal Insurance by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 25,064 shares of the insurance provider's stock valued at $594,000 after acquiring an additional 649 shares in the last quarter. Wells Fargo & Company MN increased its position in Universal Insurance by 5.6% in the 4th 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 in the last quarter. Finally, EP Wealth Advisors LLC increased its position in Universal Insurance by 12.0% in the 4th quarter. EP Wealth Advisors LLC now owns 12,189 shares of the insurance provider's stock valued at $257,000 after acquiring an additional 1,306 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Stock Up 1.3%

UVE traded up $0.33 during trading on Wednesday, reaching $24.82. The company had a trading volume of 230,185 shares, compared to its average volume of 143,797. 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 Holdings Inc has a 12 month low of $16.50 and a 12 month high of $28.49. The business's fifty day moving average price is $24.60 and its 200 day moving average price is $24.18. The company has a market cap of $702.87 million, a P/E ratio of 10.84 and a beta of 0.87.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $359.98 million. Equities analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, August 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. Universal Insurance's payout ratio is presently 27.95%.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 25,000 shares of Universal Insurance stock in a transaction that occurred 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 transaction, the chairman owned 926,667 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. Insiders own 17.50% of the company's stock.

Analyst Ratings Changes

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

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.