Rhumbline Advisers Sells 25,539 Shares of Universal Insurance Holdings Inc (NYSE:UVE)

Rhumbline Advisers decreased its position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 41.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,396 shares of the insurance provider's stock after selling 25,539 shares during the quarter. Rhumbline Advisers owned approximately 0.13% of Universal Insurance worth $863,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of UVE. Wells Fargo & Company MN raised its position in Universal Insurance by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider's stock valued at $291,000 after purchasing an additional 732 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Universal Insurance by 12.0% during the 4th quarter. EP Wealth Advisors LLC now owns 12,189 shares of the insurance provider's stock worth $257,000 after buying an additional 1,306 shares during the period. Franklin Resources Inc. boosted its position in Universal Insurance by 8.9% during the 4th quarter. Franklin Resources Inc. now owns 21,799 shares of the insurance provider's stock worth $459,000 after buying an additional 1,775 shares during the period. Lazard Asset Management LLC grew its holdings in Universal Insurance by 56.7% during the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock worth $121,000 after acquiring an additional 2,083 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Universal Insurance by 9.7% in the 4th quarter. Principal Financial Group Inc. now owns 24,415 shares of the insurance provider's stock valued at $514,000 after acquiring an additional 2,160 shares during the period. Institutional investors and hedge funds own 66.61% of the company's stock.

Analyst Upgrades and Downgrades

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

Universal Insurance Trading Up 1.0%

Shares of NYSE UVE traded up $0.27 during trading on Tuesday, reaching $27.42. The company had a trading volume of 206,225 shares, compared to its average volume of 191,761. The stock has a market cap of $771.87 million, a P/E ratio of 11.97 and a beta of 0.87. The company's fifty day moving average price is $25.71 and its 200-day moving average price is $22.59. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.24. Universal Insurance Holdings Inc has a 12 month low of $16.50 and a 12 month high of $28.49.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.12 by $0.32. Universal Insurance had a return on equity of 15.73% and a net margin of 4.31%. The business had revenue of $394.87 million for the quarter, compared to analysts' expectations of $354.97 million. As a group, research analysts expect 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, May 16th. Investors of record on Friday, May 9th were issued a $0.16 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.33%. Universal Insurance's payout ratio is 27.95%.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 26,393 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total transaction of $675,924.73. Following the transaction, the director now directly owns 331,835 shares in the company, valued at approximately $8,498,294.35. This represents a 7.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sean P. Downes sold 25,000 shares of Universal Insurance 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 now owns 926,667 shares of the company's stock, valued at $24,936,608.97. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,393 shares of company stock valued at $2,687,275. 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.