Jupiter Topco LLC Makes New $3.02 Million Investment in Universal Insurance Holdings Inc $UVE

Key Points

• Jupiter Topco LLC acquired 73,021 shares of Universal Insurance Holdings, valued at approximately $3.02 million and representing a 0.26% stake. Institutional investors collectively own 66.61% of the company.
• Universal Insurance reported quarterly EPS of $1.84, exceeding the $1.57 analyst consensus, while posting a 13.49% net margin and 37.67% return on equity.
• The stock recently traded at $43.97, near its 12-month high of $45.15. Analysts maintain a “Moderate Buy” consensus with an average $45 price target, and the company pays a quarterly dividend of $0.16 per share.

Jupiter Topco LLC bought a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 73,021 shares of the insurance provider's stock, valued at approximately $3,019,000. Jupiter Topco LLC owned 0.26% of Universal Insurance as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Universal Insurance in the second quarter valued at about $111,007,000. Donald Smith & CO. Inc. bought a new stake in Universal Insurance in the second quarter valued at $29,849,000. Renaissancere Holdings Ltd. acquired a new position in Universal Insurance during the second quarter worth $24,144,769. Millennium Management LLC lifted its holdings in shares of Universal Insurance by 212.3% during the third 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Universal Insurance during the second quarter valued at $10,530,000. 66.61% of the stock is owned by institutional investors.

Universal Insurance Stock Performance

Universal Insurance stock opened at $43.97 on Thursday. The stock has a 50-day simple moving average of $42.24 and a 200 day simple moving average of $38.21. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 5.80 and a beta of 0.72. 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 $24.13 and a 12-month high of $45.15.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, topping 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. On average, research analysts anticipate that Universal Insurance Holdings Inc will post 4.85 earnings per share 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 issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a yield of 1.5%. Universal Insurance's dividend payout ratio is currently 8.44%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total value of $885,400.00. Following the transaction, the chairman owned 1,104,645 shares in the company, valued at $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 15.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 9th. Zacks Research downgraded shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Piper Sandler boosted their price target on shares of Universal Insurance from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised shares of 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 given a Hold rating to the company. Based on data from MarketBeat, Universal Insurance currently has an average rating of "Moderate Buy" and an average target price of $45.00.

Universal Insurance 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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