Teacher Retirement System of Texas trimmed its position in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,532 shares of the insurance provider's stock after selling 16,971 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.32% of Universal Insurance worth $2,122,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of UVE. SG Americas Securities LLC lifted its position in Universal Insurance by 19.3% in the 1st quarter. SG Americas Securities LLC now owns 17,658 shares of the insurance provider's stock worth $418,000 after buying an additional 2,851 shares during the last quarter. GAMMA Investing LLC lifted its position in Universal Insurance by 3,499.2% in the first quarter. GAMMA Investing LLC now owns 17,348 shares of the insurance provider's stock valued at $411,000 after purchasing an additional 16,866 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Universal Insurance in the fourth quarter valued at approximately $928,000. Mackenzie Financial Corp bought a new stake in Universal Insurance in the fourth quarter valued at approximately $594,000. Finally, Sunbelt Securities Inc. bought a new stake in Universal Insurance in the fourth quarter valued at approximately $118,000. 66.61% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Wall Street Zen upgraded Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th.
Read Our Latest Research Report on Universal Insurance
Insider Buying and Selling
In related news, Chairman Sean P. Downes sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $26.91, for a total transaction of $672,750.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Springer sold 30,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $27.06, for a total value of $811,800.00. Following the transaction, the director owned 301,835 shares of the company's stock, valued at approximately $8,167,655.10. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,393 shares of company stock valued at $2,687,275. 16.60% of the stock is owned by corporate insiders.
Universal Insurance Trading Down 2.6%
UVE stock traded down $0.63 during midday trading on Friday, hitting $23.68. The company had a trading volume of 358,847 shares, compared to its average volume of 199,689. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.24. Universal Insurance Holdings Inc has a 52 week low of $16.50 and a 52 week high of $28.49. The stock's 50 day moving average price is $26.40 and its 200 day moving average price is $23.06. The stock has a market cap of $666.59 million, a price-to-earnings ratio of 10.34 and a beta of 0.86.
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 analysts' consensus estimates of $1.12 by $0.32. The company had revenue of $394.87 million during the quarter, compared to the consensus estimate of $354.97 million. Universal Insurance had a return on equity of 15.73% and a net margin of 4.31%. As a group, equities research analysts expect that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, August 1st will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.70%. Universal Insurance's dividend payout ratio is presently 27.95%.
About Universal Insurance
(
Free Report)
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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