Quantbot Technologies LP Acquires 11,206 Shares of 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 grew its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 221.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,275 shares of the insurance provider's stock after buying an additional 11,206 shares during the period. Quantbot Technologies LP owned 0.06% of Universal Insurance worth $386,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Universal Insurance during the 4th quarter valued at $118,000. Aquatic Capital Management LLC bought a new stake in shares of Universal Insurance during the 4th quarter valued at $121,000. Lazard Asset Management LLC boosted its holdings in shares of Universal Insurance by 56.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after buying an additional 2,083 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Universal Insurance by 57.5% during the 1st 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 in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in Universal Insurance in the 1st quarter worth about $148,000. Institutional investors own 66.61% of the company's stock.

Universal Insurance Stock Performance

Shares of UVE stock opened at $24.17 on Wednesday. Universal Insurance Holdings Inc has a one year low of $16.50 and a one year high of $28.49. The company's 50-day moving average is $24.86 and its 200 day moving average is $24.03. The company has a market capitalization of $684.49 million, a price-to-earnings ratio of 10.55 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.58 and a current ratio of 0.58.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. The company had revenue of $596.72 million for the quarter, compared to the consensus estimate of $359.98 million. Sell-side 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 announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, August 1st were paid a dividend of $0.16 per share. The ex-dividend date was Friday, August 1st. This represents a $0.64 annualized dividend and a yield of 2.6%. Universal Insurance's dividend payout ratio is currently 27.95%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $27.06, for a total transaction of $811,800.00. Following the transaction, the director owned 301,835 shares in the company, valued at approximately $8,167,655.10. This represents a 9.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 25,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $26.91, for a total transaction of $672,750.00. Following the transaction, the chairman owned 926,667 shares in the company, valued at $24,936,608.97. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by corporate insiders.

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.

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