Quantbot Technologies LP Raises Position in Universal Insurance Holdings Inc $UVE

Key Points

• Quantbot Technologies LP increased its stake in Universal Insurance Holdings Inc by 221.1%, acquiring an additional 11,206 shares, bringing its total to 16,275 shares valued at $386,000.
• Universal Insurance reported a quarterly EPS of $1.23, exceeding estimates by $0.14, and its revenue reached $596.72 million compared to an expectation of $359.98 million.
• The company announced a quarterly dividend of $0.16 per share, indicating a 2.6% yield, with a payout ratio of 27.95% as of the latest filing.

Quantbot Technologies LP boosted its position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 221.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,275 shares of the insurance provider's stock after buying an additional 11,206 shares during the quarter. Quantbot Technologies LP owned 0.06% of Universal Insurance worth $386,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Informed Momentum Co LLC purchased a new position in Universal Insurance during the first quarter worth $855,000. Deutsche Bank AG increased its stake in Universal Insurance by 60.9% in the fourth quarter. Deutsche Bank AG now owns 21,162 shares of the insurance provider's stock worth $446,000 after purchasing an additional 8,006 shares during the period. GAMMA Investing LLC increased its stake in Universal Insurance by 3,499.2% in the first quarter. GAMMA Investing LLC now owns 17,348 shares of the insurance provider's stock worth $411,000 after purchasing an additional 16,866 shares during the period. Mackenzie Financial Corp purchased a new stake in Universal Insurance in the fourth quarter worth $594,000. Finally, Russell Investments Group Ltd. increased its stake in Universal Insurance by 5.3% in the first quarter. Russell Investments Group Ltd. now owns 207,913 shares of the insurance provider's stock worth $4,928,000 after purchasing an additional 10,486 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Sean P. Downes sold 25,000 shares of Universal Insurance stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $26.91, for a total value of $672,750.00. Following the transaction, the chairman directly owned 926,667 shares in the company, valued at approximately $24,936,608.97. This trade represents a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.50% of the company's stock.

Universal Insurance Stock Up 0.4%

Shares of Universal Insurance stock traded up $0.09 during trading on Monday, hitting $24.39. 198,060 shares of the stock traded hands, compared to its average volume of 159,341. The firm has a market cap of $690.84 million, a P/E ratio of 10.65 and a beta of 0.87. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. Universal Insurance Holdings Inc has a 52-week low of $16.50 and a 52-week high of $28.49. The stock's fifty day simple moving average is $24.69 and its 200 day simple moving average is $24.18.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $596.72 million for the quarter, compared to the consensus estimate of $359.98 million. On average, equities analysts predict that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.6%. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analyst Weigh In

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

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.