Sumitomo Mitsui DS Asset Management Company Ltd Buys Shares of 399,661 Universal Insurance Holdings, Inc. (NYSE:UVE)

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 399,661 shares of the insurance provider's stock, valued at approximately $6,387,000. Sumitomo Mitsui DS Asset Management Company Ltd owned approximately 1.37% of Universal Insurance as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the business. Versor Investments LP purchased a new position in shares of Universal Insurance in the 3rd quarter worth $140,000. Tompkins Financial Corp bought a new stake in Universal Insurance during the third quarter worth approximately $153,000. Laurion Capital Management LP bought a new stake in Universal Insurance during the third quarter worth approximately $154,000. Olympiad Research LP purchased a new stake in Universal Insurance during the third quarter valued at approximately $174,000. Finally, SG Americas Securities LLC bought a new stake in shares of Universal Insurance in the 3rd quarter valued at approximately $201,000. Institutional investors own 66.61% of the company's stock.

Universal Insurance Trading Up 1.1 %

Shares of UVE traded up $0.22 during mid-day trading on Monday, reaching $19.84. 130,364 shares of the company's stock traded hands, compared to its average volume of 184,487. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. The stock's 50-day moving average is $19.31 and its two-hundred day moving average is $17.16. Universal Insurance Holdings, Inc. has a 12 month low of $11.15 and a 12 month high of $21.75. The stock has a market cap of $574.76 million, a P/E ratio of 9.02 and a beta of 0.83.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. The company had revenue of $375.46 million during the quarter, compared to analysts' expectations of $328.12 million. Research analysts forecast that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, May 9th. Universal Insurance's payout ratio is presently 29.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on UVE. Piper Sandler reissued an "overweight" rating and set a $25.00 target price on shares of Universal Insurance in a research report on Monday, April 1st. TheStreet upgraded shares of Universal Insurance from a "c+" rating to a "b" rating in a research report on Monday, February 26th. Finally, StockNews.com upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 4th.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the completion of the sale, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.70% of the stock is currently owned by insiders.

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.