Jacobs Levy Equity Management Inc. Has $6.64 Million Stock Holdings in Universal Insurance Holdings Inc $UVE

Jacobs Levy Equity Management Inc. lessened its position in Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 23.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 280,030 shares of the insurance provider's stock after selling 86,847 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.99% of Universal Insurance worth $6,637,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in UVE. Donald Smith & CO. Inc. boosted its stake in shares of Universal Insurance by 6.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 1,836,718 shares of the insurance provider's stock valued at $43,530,000 after purchasing an additional 116,199 shares in the last quarter. Nuveen LLC acquired a new position in Universal Insurance during the 1st quarter worth about $2,197,000. Millennium Management LLC lifted its position in Universal Insurance by 120.6% during the 4th quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider's stock worth $2,666,000 after buying an additional 69,205 shares in the last quarter. American Century Companies Inc. lifted its position in Universal Insurance by 9.8% during the 1st quarter. American Century Companies Inc. now owns 668,641 shares of the insurance provider's stock worth $15,847,000 after buying an additional 59,752 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Universal Insurance during the 1st quarter worth about $1,333,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Trading Down 0.8%

NYSE:UVE traded down $0.20 on Friday, hitting $25.46. 104,901 shares of the stock were exchanged, compared to its average volume of 137,037. The stock has a market capitalization of $720.89 million, a price-to-earnings ratio of 11.12 and a beta of 0.87. Universal Insurance Holdings Inc has a 52 week low of $16.50 and a 52 week high of $28.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.58 and a current ratio of 0.58. The company's 50-day moving average price is $24.35 and its 200 day moving average price is $24.43.

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, topping the consensus estimate 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 return on equity of 15.37% and a net margin of 4.24%. On average, equities research analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.5%. Universal Insurance's dividend payout ratio is 27.95%.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.35, for a total value of $507,000.00. Following the completion of the sale, the chairman directly owned 1,303,512 shares of the company's stock, valued at $33,044,029.20. This represents a 1.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.