Voya Investment Management LLC boosted its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,862 shares of the insurance provider's stock after buying an additional 13,177 shares during the quarter. Voya Investment Management LLC owned approximately 0.16% of Universal Insurance worth $1,040,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Unison Advisors LLC increased its holdings in Universal Insurance by 1.5% during the first quarter. Unison Advisors LLC now owns 37,991 shares of the insurance provider's stock valued at $900,000 after buying an additional 557 shares during the period. Victory Capital Management Inc. increased its holdings in Universal Insurance by 4.9% during the first quarter. Victory Capital Management Inc. now owns 11,971 shares of the insurance provider's stock valued at $284,000 after buying an additional 563 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Universal Insurance by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider's stock valued at $331,000 after buying an additional 630 shares during the period. Principal Financial Group Inc. increased 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 valued at $594,000 after buying an additional 649 shares during the period. Finally, Graham Capital Management L.P. increased 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 valued at $584,000 after buying an additional 653 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Universal Insurance
In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $25.35, for a total transaction of $507,000.00. Following the completion of the sale, the chairman directly owned 1,303,512 shares in the company, valued at approximately $33,044,029.20. The trade was a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 17.50% of the company's stock.
Universal Insurance Price Performance
NYSE UVE opened at $25.68 on Wednesday. The firm's fifty day simple moving average is $24.47 and its two-hundred day simple moving average is $24.61. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. Universal Insurance Holdings Inc has a 12-month low of $16.50 and a 12-month high of $28.49. The firm has a market capitalization of $727.23 million, a P/E ratio of 11.21 and a beta of 0.87.
Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.14. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. The business had revenue of $596.72 million for the quarter, compared to analyst estimates of $359.98 million. Analysts forecast that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.
Universal Insurance Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, August 1st. Universal Insurance's payout ratio is presently 27.95%.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd.
Check Out Our Latest Report on Universal Insurance
About Universal Insurance
(
Free Report)
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.
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