Janus Henderson Group PLC Has $2.87 Million Position in Universal Insurance Holdings Inc $UVE

Key Points

• Janus Henderson Group cut its Universal Insurance stake by 50.5% in the first quarter, selling 85,737 shares and retaining 83,919 shares valued at approximately $2.87 million. Institutional investors and hedge funds collectively own 66.61% of UVE.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $45.00. Piper Sandler raised its target to $45, while Zacks Research and Wall Street Zen recently downgraded the stock.
• Universal Insurance reported quarterly EPS of $1.84, beating estimates of $1.57, alongside a 13.49% net margin and 37.67% return on equity. The company also paid a quarterly dividend of $0.16, equivalent to a 1.5% annualized yield.

Janus Henderson Group PLC cut its holdings in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 50.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,919 shares of the insurance provider's stock after selling 85,737 shares during the period. Janus Henderson Group PLC owned approximately 0.30% of Universal Insurance worth $2,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Universal Insurance by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider's stock valued at $331,000 after acquiring an additional 630 shares in the last quarter. Millennium Management LLC boosted its stake in Universal Insurance by 171.5% during the first quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider's stock worth $8,148,000 after acquiring an additional 217,184 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Universal Insurance by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider's stock worth $19,083,000 after acquiring an additional 69,289 shares in the last quarter. Jane Street Group LLC grew its holdings in Universal Insurance by 73.1% in the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider's stock worth $1,939,000 after purchasing an additional 34,556 shares during the period. Finally, Strs Ohio acquired a new stake in Universal Insurance in the first quarter worth $180,000. 66.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UVE. Piper Sandler raised their target price on 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 lowered Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Sunday. Weiss Ratings reissued a "buy (b)" rating on shares of Universal Insurance in a research note on Friday, July 17th. Finally, Zacks Research downgraded Universal Insurance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $45.00.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total transaction of $885,400.00. Following the transaction, the chairman owned 1,104,645 shares of the company's stock, valued at $48,902,634.15. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 60,000 shares of company stock worth $2,424,400. 15.00% of the stock is owned by company insiders.

Universal Insurance Stock Performance

NYSE UVE opened at $44.06 on Friday. Universal Insurance Holdings Inc has a 1 year low of $23.25 and a 1 year high of $45.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.51. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 5.81 and a beta of 0.72. The company has a fifty day moving average price of $40.28 and a 200-day moving average price of $36.58.

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

Universal Insurance Dividend Announcement

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

About Universal Insurance

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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