Vanguard Group Inc. Buys 54,004 Shares of Universal Insurance Holdings Inc $UVE

Key Points

• Vanguard increased its stake in Universal Insurance Holdings by 2.8% in the fourth quarter, buying 54,004 shares to bring its total holding to 2,007,725 shares, worth about $67.9 million.
• Universal Insurance reported stronger-than-expected quarterly earnings, posting $2.00 EPS versus the $1.39 consensus estimate, though revenue of $398.16 million came in below expectations.
• The company declared a quarterly dividend of $0.16 per share, implying a 1.6% annual yield, while analysts currently rate the stock a consensus Buy with a $40 target price.

Vanguard Group Inc. boosted its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,007,725 shares of the insurance provider's stock after acquiring an additional 54,004 shares during the period. Vanguard Group Inc. owned 7.16% of Universal Insurance worth $67,861,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new position in Universal Insurance during the 3rd quarter worth $32,000. Tower Research Capital LLC TRC increased its stake in Universal Insurance by 390.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider's stock worth $74,000 after acquiring an additional 2,114 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Universal Insurance by 11.3% in the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider's stock valued at $146,000 after purchasing an additional 534 shares in the last quarter. Strs Ohio acquired a new stake in shares of Universal Insurance in the 1st quarter valued at $180,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Universal Insurance by 53.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,419 shares of the insurance provider's stock valued at $217,000 after purchasing an additional 2,232 shares in the last quarter. Institutional investors own 66.61% of the company's stock.

Universal Insurance Trading Down 0.3%

Shares of UVE stock opened at $39.03 on Friday. The stock's fifty day moving average price is $35.71 and its two-hundred day moving average price is $33.45. The company has a market cap of $1.09 billion, a PE ratio of 5.78 and a beta of 0.77. Universal Insurance Holdings Inc has a fifty-two week low of $21.96 and a fifty-two week high of $41.96. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.51 and a current ratio of 0.51.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.61. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%.The firm had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. Equities analysts predict that Universal Insurance Holdings Inc will post 4.75 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.64 annualized dividend and a dividend yield of 1.6%. Universal Insurance's dividend payout ratio (DPR) is 9.48%.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $39.69, for a total transaction of $793,800.00. Following the sale, the chairman owned 1,188,255 shares of the company's stock, valued at $47,161,840.95. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Kimberly D. Campos sold 879 shares of the firm's stock in a transaction on Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the sale, the chief accounting officer directly owned 7,422 shares in the company, valued at approximately $251,160.48. This trade represents a 10.59% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 40,879 shares of company stock worth $1,515,545. 15.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on UVE. Zacks Research raised Universal Insurance from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Universal Insurance in a report on Monday, April 20th. Finally, Wall Street Zen downgraded Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $40.00.

About Universal Insurance

Universal Insurance Holdings, Inc NYSE: UVE is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.

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