Universal Insurance Holdings Inc (NYSE:UVE) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 3,499.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,348 shares of the insurance provider's stock after purchasing an additional 16,866 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Universal Insurance worth $411,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Donald Smith & CO. Inc. grew its position in shares of Universal Insurance by 11.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock valued at $36,234,000 after purchasing an additional 174,843 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Universal Insurance by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider's stock valued at $35,266,000 after purchasing an additional 4,480 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Universal Insurance by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider's stock valued at $31,510,000 after purchasing an additional 6,250 shares during the last quarter. American Century Companies Inc. grew its position in shares of Universal Insurance by 10.4% in the fourth quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock valued at $12,823,000 after purchasing an additional 57,424 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Universal Insurance by 0.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 366,877 shares of the insurance provider's stock valued at $7,726,000 after purchasing an additional 2,181 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Trading Up 0.6%

Shares of UVE traded up $0.15 on Friday, hitting $26.34. 239,939 shares of the stock traded hands, compared to its average volume of 191,770. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $741.20 million, a P/E ratio of 11.50 and a beta of 0.87. The stock's 50 day moving average is $25.62 and its two-hundred day moving average is $22.56. Universal Insurance Holdings Inc has a 1 year low of $16.50 and a 1 year high of $28.49.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.32. The business had revenue of $394.87 million for the quarter, compared to the consensus estimate of $354.97 million. Universal Insurance had a net margin of 4.31% and a return on equity of 15.73%. As a group, sell-side analysts predict that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, May 9th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, May 9th. Universal Insurance's payout ratio is 27.95%.

Wall Street Analyst Weigh In

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

Insider Activity at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $27.06, for a total transaction of $811,800.00. Following the transaction, the director now owns 301,835 shares of the company's stock, valued at $8,167,655.10. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.34, for a total transaction of $526,800.00. Following the transaction, the chairman now directly owns 951,667 shares in the company, valued at approximately $25,066,908.78. This represents a 2.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,393 shares of company stock valued at $2,687,275. Company 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.