Russell Investments Group Ltd. Purchases 10,486 Shares of Universal Insurance Holdings Inc $UVE

Key Points

• Russell Investments Group Ltd. has increased its ownership of Universal Insurance Holdings Inc by 5.3% during the first quarter, bringing its total holdings to 207,913 shares worth approximately $4.93 million.
• Universal Insurance reported a quarterly EPS of $1.23, exceeding analyst expectations, with a revenue of $596.72 million for the quarter.
• The company declared a quarterly dividend of $0.16 per share, which translates to an annualized yield of 2.6% with a payout ratio of 27.95%.

Russell Investments Group Ltd. grew its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 207,913 shares of the insurance provider's stock after acquiring an additional 10,486 shares during the period. Russell Investments Group Ltd. owned 0.74% of Universal Insurance worth $4,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Aquatic Capital Management LLC acquired a new stake in shares of Universal Insurance in the 4th quarter valued at $121,000. Sunbelt Securities Inc. acquired a new stake in shares of Universal Insurance in the 4th quarter valued at $118,000. Lazard Asset Management LLC lifted its stake in shares of Universal Insurance by 56.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after purchasing an additional 2,083 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Universal Insurance by 57.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock valued at $138,000 after purchasing an additional 2,127 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Universal Insurance in the 1st quarter valued at $148,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Universal Insurance Stock Performance

Shares of UVE traded up $0.42 during trading hours on Wednesday, reaching $24.58. 90,485 shares of the company traded hands, compared to its average volume of 172,554. The stock has a market cap of $696.11 million, a P/E ratio of 10.73 and a beta of 0.87. The stock's fifty day moving average is $24.83 and its 200 day moving average is $24.03. Universal Insurance Holdings Inc has a 1-year low of $16.50 and a 1-year high of $28.49. 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 posted its earnings results on Thursday, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.14. The business had revenue of $596.72 million for the quarter, compared to analysts' expectations of $359.98 million. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. Equities research analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Friday, August 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. Universal Insurance's payout ratio is presently 27.95%.

Analyst Ratings Changes

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

Insider Transactions at Universal Insurance

In related news, 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 value of $672,750.00. Following the sale, the chairman owned 926,667 shares of the company's stock, valued at $24,936,608.97. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jon Springer sold 30,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $27.06, for a total transaction of $811,800.00. Following the sale, the director directly owned 301,835 shares in the company, valued at $8,167,655.10. This represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.60% of the company's stock.

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.