Sei Investments Co. Has $455,000 Stock Holdings in Universal Insurance Holdings Inc $UVE

Key Points

• Sei Investments cut its Universal Insurance Holdings position by 68% in the first quarter, selling 28,300 shares and retaining 13,314 shares worth approximately $455,000. Institutional investors collectively own 66.61% of UVE.
• Universal Insurance’s chairman Sean P. Downes sold 20,000 shares for $885,400, reducing his holdings by 1.78%; company insiders still own 15% of the stock.
• Analysts hold a cautious view, with a consensus “Hold” rating and a $45 price target. UVE recently beat quarterly EPS estimates, reporting $1.84 versus the expected $1.57, and pays a quarterly dividend of $0.16.

Sei Investments Co. trimmed its position in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 68.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,314 shares of the insurance provider's stock after selling 28,300 shares during the quarter. Sei Investments Co.'s holdings in Universal Insurance were worth $455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Torren Management LLC acquired a new position in Universal Insurance during the fourth quarter worth approximately $54,000. Tower Research Capital LLC TRC lifted its position in shares of Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock valued at $74,000 after buying an additional 2,114 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Universal Insurance by 4,847.3% during the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider's stock worth $93,000 after acquiring an additional 2,666 shares during the period. IFP Advisors Inc boosted its stake in shares of Universal Insurance by 492.4% during the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider's stock worth $95,000 after acquiring an additional 2,324 shares during the period. Finally, Archer Investment Corp acquired a new position in shares of Universal Insurance during the 1st quarter worth approximately $95,000. Institutional investors own 66.61% of the company's stock.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total transaction of $885,400.00. Following the transaction, the chairman directly owned 1,104,645 shares of the company's stock, valued at approximately $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 15.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on UVE shares. Wall Street Zen downgraded Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Universal Insurance in a report on Friday, July 17th. Piper Sandler increased their price objective on shares of Universal Insurance from $44.00 to $45.00 and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Zacks Research cut shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $45.00.

Universal Insurance Stock Performance

NYSE:UVE opened at $43.27 on Friday. The stock has a market cap of $1.20 billion, a P/E ratio of 5.71 and a beta of 0.72. The stock has a 50 day simple moving average of $40.95 and a 200 day simple moving average of $37.05. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. Universal Insurance Holdings Inc has a 1-year low of $23.32 and a 1-year high of $45.15.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.27. The firm had revenue of $419.38 million for the quarter, compared to analyst estimates of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. Research analysts anticipate that Universal Insurance Holdings Inc will post 4.85 earnings per share for the current year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were paid a $0.16 dividend. The ex-dividend date was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance's dividend payout ratio is 8.44%.

Universal Insurance Profile

Universal Insurance Holdings, Inc NYSE: UVE is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.

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