Northern Trust Corp Acquires 39,582 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Northern Trust Corp boosted its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266,482 shares of the insurance provider's stock after buying an additional 39,582 shares during the quarter. Northern Trust Corp owned approximately 0.94% of Universal Insurance worth $5,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of UVE. Donald Smith & CO. Inc. increased its position in Universal Insurance by 11.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock worth $36,234,000 after buying an additional 174,843 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Universal Insurance by 128,888.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider's stock worth $1,222,000 after acquiring an additional 58,000 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of Universal Insurance during the fourth quarter worth approximately $1,212,000. American Century Companies Inc. boosted its holdings in shares of Universal Insurance by 10.4% during 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 during the period. Finally, Integrated Quantitative Investments LLC bought a new stake in shares of Universal Insurance during the fourth quarter worth approximately $1,137,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Stock Performance

Shares of NYSE:UVE traded down $0.09 during trading on Friday, reaching $26.28. 137,575 shares of the stock were exchanged, compared to its average volume of 186,468. Universal Insurance Holdings, Inc. has a 12 month low of $16.50 and a 12 month high of $26.85. The firm has a market cap of $739.54 million, a PE ratio of 10.68 and a beta of 0.83. The stock has a 50-day moving average price of $23.85 and a 200-day moving average price of $21.94. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance (NYSE:UVE - Get Free Report) last issued 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. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $394.87 million during the quarter, compared to analysts' expectations of $354.97 million. Research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Friday, May 9th. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the sale, the chairman now directly owns 990,200 shares in the company, valued at approximately $21,863,616. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jon Springer sold 26,393 shares of the business's 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 completion of the sale, the director now owns 331,835 shares of the company's stock, valued at approximately $8,498,294.35. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,393 shares of company stock worth $2,085,925. Company insiders own 16.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

Universal Insurance Company 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.