Squarepoint Ops LLC Buys New Position in Universal Insurance Holdings Inc $UVE

Key Points

• Squarepoint Ops LLC initiated a position in Universal Insurance Holdings, purchasing 33,399 shares worth approximately $1.38 million, or 0.12% of the company.
• Universal Insurance reported quarterly EPS of $1.84, exceeding estimates of $1.57, and pays a quarterly dividend of $0.16 per share, equivalent to a 1.4% yield.
• The stock opened at $44.18, near its 12-month high of $45.15. Analysts maintain an average “Hold” rating with a $45.00 price target, while Chairman Sean Downes sold 20,000 shares.

Squarepoint Ops LLC bought a new position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 33,399 shares of the insurance provider's stock, valued at approximately $1,381,000. Squarepoint Ops LLC owned 0.12% of Universal Insurance at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position 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 valued at $93,000 after acquiring an additional 2,666 shares during the period. Archer Investment Corp bought a new stake in Universal Insurance during the 1st quarter valued at $95,000. IFP Advisors Inc increased its stake in Universal Insurance by 492.4% during the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider's stock valued at $95,000 after purchasing an additional 2,324 shares in the last quarter. Root Financial Partners LLC raised its holdings in Universal Insurance by 170,750.0% during the first quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider's stock worth $117,000 after buying an additional 3,415 shares during the last quarter. Finally, Able Wealth Management LLC acquired a new position in Universal Insurance during the first quarter worth $201,000. 66.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean Downes sold 20,000 shares of the business's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $43.98, for a total transaction of $879,600.00. Following the transaction, the chairman directly owned 1,084,645 shares in the company, valued at approximately $47,702,687.10. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.00% of the stock is owned by insiders.

Universal Insurance Stock Up 0.2%

Shares of NYSE:UVE opened at $44.18 on Thursday. The business's 50 day moving average is $42.71 and its 200 day moving average is $39.09. Universal Insurance Holdings Inc has a 12-month low of $24.51 and a 12-month high of $45.15. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 5.83 and a beta of 0.72. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.15.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results 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 business had revenue of $419.38 million during 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%. On average, sell-side analysts forecast that Universal Insurance Holdings Inc will post 4.85 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, July 31st. Universal Insurance's dividend payout ratio (DPR) is presently 8.44%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of Universal Insurance from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Wednesday, September 2nd. Piper Sandler boosted their target price on shares of Universal Insurance from $44.00 to $45.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Wall Street Zen lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 9th. Finally, Zacks Research cut shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Universal Insurance currently has an average rating of "Hold" and an average price target of $45.00.

Universal Insurance Profile

Universal Insurance Holdings, Inc is an insurance holding company headquartered in Fort Lauderdale, Florida. Through its subsidiaries, including Universal Property & Casualty Insurance Company, the company primarily provides personal residential property insurance to homeowners.

Its products generally include coverage for homes, condominiums, renters, and related personal property, along with protection against risks such as wind, fire, theft, and other covered perils. Universal manages the insurance process through underwriting, policy administration, claims handling, and catastrophe-risk management, supported by reinsurance arrangements.

The company has historically focused on property insurance in Florida and has expanded its operations into additional states, particularly in the southeastern United States and other coastal markets.

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