Millennium Management LLC Acquires 69,205 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Millennium Management LLC lifted its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 120.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,602 shares of the insurance provider's stock after buying an additional 69,205 shares during the quarter. Millennium Management LLC owned about 0.45% of Universal Insurance worth $2,666,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in Universal Insurance by 10.4% in the fourth quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock worth $12,823,000 after acquiring an additional 57,424 shares in the last quarter. Deutsche Bank AG raised its holdings in Universal Insurance by 60.9% during the fourth quarter. Deutsche Bank AG now owns 21,162 shares of the insurance provider's stock worth $446,000 after buying an additional 8,006 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Universal Insurance by 62.5% in the fourth quarter. Rhumbline Advisers now owns 61,935 shares of the insurance provider's stock valued at $1,304,000 after buying an additional 23,830 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Universal Insurance by 263.3% during the fourth quarter. Prudential Financial Inc. now owns 42,221 shares of the insurance provider's stock valued at $889,000 after buying an additional 30,600 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Universal Insurance by 15.8% during the fourth quarter. JPMorgan Chase & Co. now owns 170,574 shares of the insurance provider's stock worth $3,592,000 after acquiring an additional 23,325 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Stock Performance

UVE stock traded down $0.16 during midday trading on Wednesday, hitting $27.58. The company's stock had a trading volume of 22,240 shares, compared to its average volume of 187,432. The stock has a market cap of $776.27 million, a price-to-earnings ratio of 11.23 and a beta of 0.83. Universal Insurance Holdings, Inc. has a 1 year low of $16.50 and a 1 year high of $28.49. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock's 50-day moving average price is $24.56 and its 200 day moving average price is $22.18.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.32. The business had revenue of $394.87 million during the quarter, compared to the consensus estimate of $354.97 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. On average, equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, May 9th. Universal Insurance's dividend payout ratio is currently 27.95%.

Insider Activity at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 26,393 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $25.61, for a total value of $675,924.73. Following the sale, the director now directly owns 331,835 shares in the company, valued at $8,498,294.35. This represents a 7.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.34, for a total value of $526,800.00. Following the transaction, the chairman now owns 951,667 shares of the company's stock, valued at approximately $25,066,908.78. The trade was a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,393 shares of company stock worth $2,014,525. 16.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Monday, April 28th.

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.