American Century Companies Inc. Raises Stock Position in Universal Insurance Holdings Inc $UVE

Key Points

• American Century Companies Inc. increased its stake in Universal Insurance Holdings by 9.8%, owning 668,641 shares valued at approximately $15.8 million as of the end of the most recent quarter.
• Universal Insurance reported earnings of $1.23 EPS for the last quarter, exceeding estimates of $1.09 and generating $596.72 million in revenue.
• The company announced a quarterly dividend of $0.16, yielding 2.6% annually, with a current payout ratio of 27.95%.

American Century Companies Inc. boosted its position in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,641 shares of the insurance provider's stock after purchasing an additional 59,752 shares during the period. American Century Companies Inc. owned approximately 2.38% of Universal Insurance worth $15,847,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of UVE. Sunbelt Securities Inc. purchased a new position in Universal Insurance during the fourth quarter worth about $118,000. Aquatic Capital Management LLC acquired a new stake in shares of Universal Insurance during the fourth quarter valued at about $121,000. Lazard Asset Management LLC increased its position in shares of Universal Insurance by 56.7% during the fourth quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after acquiring an additional 2,083 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Universal Insurance by 57.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider's stock valued at $138,000 after acquiring an additional 2,127 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Universal Insurance during the first quarter valued at about $148,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd.

Universal Insurance Stock Up 1.7%

Shares of UVE stock traded up $0.42 during trading on Wednesday, reaching $24.58. The company's stock had a trading volume of 90,485 shares, compared to its average volume of 172,554. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $696.11 million, a price-to-earnings ratio of 10.73 and a beta of 0.87. The stock's 50-day moving average price is $24.83 and its 200 day moving average price is $24.03. 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, July 24th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.09 by $0.14. The firm had revenue of $596.72 million during the quarter, compared to analysts' expectations of $359.98 million. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. On average, research analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, August 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 1st. Universal Insurance's payout ratio is 27.95%.

Insider Activity at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the business'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 transaction of $811,800.00. Following the completion of the transaction, the director owned 301,835 shares in the company, valued at $8,167,655.10. The trade was a 9.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Sean P. Downes sold 25,000 shares of the business'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 sale, the chairman owned 926,667 shares of the company's stock, valued at $24,936,608.97. This represents a 2.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.60% of the company's stock.

Universal Insurance 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.