Nuveen LLC Buys New Position in Universal Insurance Holdings Inc $UVE

Key Points

• Nuveen LLC has acquired a new position in Universal Insurance Holdings Inc, purchasing 92,689 shares valued at approximately $2,197,000, representing 0.33% ownership in the company.
• Universal Insurance reported strong earnings results, with an EPS of $1.23 for the last quarter, exceeding analysts' expectations of $1.09, thereby reflecting a net margin of 4.24% and a revenue that significantly surpassed forecasts.
• The company recently announced a quarterly dividend of $0.16 per share, equating to an annualized yield of 2.6%, with an overall payout ratio of 27.95%.

Nuveen LLC acquired a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 92,689 shares of the insurance provider's stock, valued at approximately $2,197,000. Nuveen LLC owned about 0.33% of Universal Insurance as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UVE. Sunbelt Securities Inc. bought a new position in shares of Universal Insurance in the fourth quarter worth $118,000. Lazard Asset Management LLC boosted its stake in Universal Insurance by 56.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock worth $121,000 after purchasing an additional 2,083 shares during the period. Aquatic Capital Management LLC purchased a new position in Universal Insurance during the 4th quarter valued at about $121,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Universal Insurance by 57.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock valued at $138,000 after buying an additional 2,127 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Universal Insurance in the first quarter worth about $148,000. Institutional investors own 66.61% of the company's stock.

Universal Insurance Trading Up 1.0%

Shares of Universal Insurance stock traded up $0.26 during trading on Wednesday, reaching $24.75. The company's stock had a trading volume of 71,196 shares, compared to its average volume of 210,992. The company has a market cap of $700.81 million, a price-to-earnings ratio of 10.81 and a beta of 0.87. The firm's 50-day moving average is $24.63 and its two-hundred day moving average is $24.18. Universal Insurance Holdings Inc has a 52-week low of $16.50 and a 52-week high of $28.49. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.22.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.09 by $0.14. Universal Insurance had a return on equity of 15.37% and a net margin of 4.24%.The firm had revenue of $596.72 million for the quarter, compared to analysts' expectations of $359.98 million. On average, sell-side analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were issued a $0.16 dividend. The ex-dividend date was Friday, August 1st. This represents a $0.64 annualized dividend and a dividend yield of 2.6%. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 25,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $26.91, for a total transaction of $672,750.00. Following the completion of the sale, the chairman directly owned 926,667 shares in the company, valued at $24,936,608.97. This represents a 2.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 17.50% of the stock is currently owned by insiders.

Universal Insurance 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.