Voleon Capital Management LP Boosts Stake in Universal Insurance Holdings Inc $UVE

Key Points

• Voleon Capital Management LP increased its stake in Universal Insurance Holdings by 36.2% during the first quarter, acquiring an additional 16,562 shares and bringing its total holdings to 62,292 shares worth approximately $1,476,000.
• Universal Insurance's quarterly dividend was recently announced, with shareholders receiving $0.16 per share, resulting in an annualized yield of 2.6%.
• Analysts from Wall Street Zen downgraded Universal Insurance from a "strong-buy" rating to a "buy" rating, suggesting a more cautious outlook moving forward.

Voleon Capital Management LP raised its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 36.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,292 shares of the insurance provider's stock after purchasing an additional 16,562 shares during the quarter. Voleon Capital Management LP owned about 0.22% of Universal Insurance worth $1,476,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of UVE. Unison Advisors LLC increased its stake in shares of Universal Insurance by 1.5% in the first quarter. Unison Advisors LLC now owns 37,991 shares of the insurance provider's stock worth $900,000 after acquiring an additional 557 shares during the period. Victory Capital Management Inc. increased its stake in shares of Universal Insurance by 4.9% in the first quarter. Victory Capital Management Inc. now owns 11,971 shares of the insurance provider's stock worth $284,000 after acquiring an additional 563 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Universal Insurance by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider's stock worth $331,000 after acquiring an additional 630 shares during the period. Principal Financial Group Inc. boosted its holdings in Universal Insurance by 2.7% during the first quarter. Principal Financial Group Inc. now owns 25,064 shares of the insurance provider's stock worth $594,000 after buying an additional 649 shares in the last quarter. Finally, Graham Capital Management L.P. boosted its holdings in Universal Insurance by 2.7% during the first quarter. Graham Capital Management L.P. now owns 24,656 shares of the insurance provider's stock worth $584,000 after buying an additional 653 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Price Performance

UVE traded down $0.20 during midday trading on Friday, hitting $25.46. 104,901 shares of the company traded hands, compared to its average volume of 137,037. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. The company 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 business has a 50 day simple moving average of $24.35 and a two-hundred day simple moving average of $24.42.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.14. The business had revenue of $596.72 million for the quarter, compared to the consensus estimate of $359.98 million. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. On average, equities analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The firm 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. This represents a $0.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 1st. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $25.35, for a total value of $507,000.00. Following the transaction, the chairman directly owned 1,303,512 shares of the company's stock, valued at approximately $33,044,029.20. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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.