NFJ Investment Group LLC Purchases Shares of 79,054 Universal Insurance Holdings Inc $UVE

Key Points

• NFJ Investment Group purchased 79,054 shares of Universal Insurance Holdings in the second quarter, worth approximately $3.27 million and representing about 0.28% of the company. Institutional investors collectively own 66.61% of UVE.
• Universal Insurance reported quarterly EPS of $1.84, beating estimates of $1.57, while revenue totaled $419.38 million. The company also paid a quarterly dividend of $0.16 per share, yielding approximately 1.5% annually.
• UVE shares opened at $42.30, near their 52-week high of $45.15. Analyst sentiment remains a “Moderate Buy,” with an average price target of $45.00, although Chairman Sean P. Downes recently sold 20,000 shares.

NFJ Investment Group LLC bought a new stake in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 79,054 shares of the insurance provider's stock, valued at approximately $3,270,000. NFJ Investment Group LLC owned approximately 0.28% of Universal Insurance as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Sierra Summit Advisors LLC lifted its position in shares of Universal Insurance by 0.9% in the first quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider's stock worth $1,027,000 after purchasing an additional 282 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Universal Insurance by 1.5% in the first quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider's stock valued at $803,000 after purchasing an additional 348 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Universal Insurance by 1.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider's stock valued at $965,000 after buying an additional 405 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Universal Insurance by 5.2% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider's stock valued at $327,000 after buying an additional 474 shares during the last quarter. Finally, Osaic Holdings Inc. lifted its position in Universal Insurance by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider's stock worth $146,000 after buying an additional 534 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total value of $885,400.00. Following the transaction, the chairman directly owned 1,104,645 shares of the company's stock, valued at $48,902,634.15. This represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.00% of the stock is currently owned by corporate insiders.

Universal Insurance Trading Up 0.2%

Universal Insurance stock opened at $42.30 on Friday. The stock has a 50-day simple moving average of $41.35 and a 200 day simple moving average of $37.45. The stock has a market capitalization of $1.18 billion, a P/E ratio of 5.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.57 and a current ratio of 0.57. Universal Insurance Holdings Inc has a 52 week low of $24.03 and a 52 week high of $45.15.

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

Universal Insurance Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UVE. Weiss Ratings upgraded Universal Insurance from a "buy (b)" rating to a "buy (a-)" rating in a report on Monday. Piper Sandler upped their target price on Universal Insurance from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Zacks Research cut Universal Insurance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Finally, Wall Street Zen downgraded shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.00.

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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