Voleon Capital Management LP Takes Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Voleon Capital Management LP bought a new stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,730 shares of the insurance provider's stock, valued at approximately $963,000. Voleon Capital Management LP owned about 0.16% of Universal Insurance as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of UVE. Barclays PLC raised its holdings in shares of Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider's stock valued at $1,528,000 after purchasing an additional 28,278 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Universal Insurance by 35.7% in the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock valued at $3,263,000 after acquiring an additional 38,767 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in Universal Insurance by 100.0% during the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock worth $12,017,000 after acquiring an additional 285,338 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Universal Insurance by 128,888.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider's stock valued at $1,222,000 after purchasing an additional 58,000 shares during the last quarter. Finally, Rockwood Wealth Management LLC raised its stake in shares of Universal Insurance by 48.4% during the 4th quarter. Rockwood Wealth Management LLC now owns 16,373 shares of the insurance provider's stock worth $337,000 after purchasing an additional 5,337 shares during the period. 66.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the transaction, the chairman now directly owns 990,200 shares in the company, valued at approximately $21,863,616. This represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.50% of the company's stock.

Universal Insurance Stock Performance

Shares of Universal Insurance stock traded up $0.32 during trading hours on Monday, reaching $25.56. The company had a trading volume of 286,450 shares, compared to its average volume of 179,535. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $25.83. The firm has a market cap of $720.62 million, a PE ratio of 10.39 and a beta of 0.76. The business has a fifty day simple moving average of $22.52 and a 200 day simple moving average of $21.32.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.12 by $0.32. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $394.87 million during the quarter, compared to the consensus estimate of $354.97 million. On average, analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 2.50%. Universal Insurance's dividend payout ratio is presently 27.95%.

Universal Insurance Company 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.