CWA Asset Management Group LLC Has $5.96 Million Stock Position in Universal Insurance Holdings Inc (NYSE:UVE)

CWA Asset Management Group LLC lowered its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 55.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 251,570 shares of the insurance provider's stock after selling 319,045 shares during the quarter. CWA Asset Management Group LLC owned about 0.90% of Universal Insurance worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Donald Smith & CO. Inc. raised its holdings in Universal Insurance by 11.3% during 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 buying an additional 174,843 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Universal Insurance by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider's stock valued at $35,266,000 after acquiring an additional 4,480 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Universal Insurance by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider's stock worth $31,510,000 after purchasing an additional 6,250 shares during the last quarter. American Century Companies Inc. grew its holdings in Universal Insurance by 10.4% during 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. raised 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 period. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Stock Performance

Shares of NYSE UVE traded down $0.18 during trading hours on Thursday, hitting $26.17. 253,007 shares of the company's stock were exchanged, compared to its average volume of 191,272. The company's 50-day moving average price is $25.54 and its 200-day moving average price is $22.53. Universal Insurance Holdings Inc has a 1-year low of $16.50 and a 1-year high of $28.49. The stock has a market capitalization of $736.80 million, a price-to-earnings ratio of 11.43 and a beta of 0.87. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.50 and a quick ratio of 0.50.

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

Universal Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 2.45%. Universal Insurance's payout ratio is 27.95%.

Insider Activity

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of Universal Insurance stock in a transaction 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 sale, the director now owns 301,835 shares in the company, valued at $8,167,655.10. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.34, for a total transaction of $526,800.00. Following the completion of the transaction, the chairman now owns 951,667 shares of the company's stock, 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 sold 101,393 shares of company stock valued at $2,687,275. Insiders own 16.60% of the company's stock.

Analysts Set New Price Targets

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

About Universal Insurance

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.