Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 366,877 shares of the insurance provider’s stock after purchasing an additional 2,181 shares during the quarter. Jacobs Levy Equity Management Inc. owned 1.30% of Universal Insurance worth $7,726,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Donald Smith & CO. Inc. grew its stake in Universal Insurance by 11.3% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider’s stock valued at $36,234,000 after purchasing an additional 174,843 shares in the last quarter. Vanguard Group Inc. grew its stake in Universal Insurance by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider’s stock valued at $35,266,000 after purchasing an additional 4,480 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Universal Insurance by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider’s stock valued at $31,510,000 after purchasing an additional 6,250 shares in the last quarter. American Century Companies Inc. grew its stake in Universal Insurance by 10.4% during the 4th quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider’s stock valued at $12,823,000 after purchasing an additional 57,424 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Universal Insurance by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 357,100 shares of the insurance provider’s stock valued at $7,521,000 after purchasing an additional 33,900 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 26,393 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total transaction of $675,924.73. Following the completion of the transaction, the director now owns 331,835 shares in the company, valued at $8,498,294.35. The trade was a 7.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $22.08, for a total value of $441,600.00. Following the transaction, the chairman now owns 990,200 shares of the company’s stock, valued at $21,863,616. This represents a 1.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,393 shares of company stock worth $1,559,125. 16.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Universal Insurance Price Performance

Shares of UVE opened at $25.85 on Wednesday. The firm has a market cap of $727.55 million, a price-to-earnings ratio of 10.51 and a beta of 0.83. The stock has a 50 day moving average of $23.04 and a 200-day moving average of $21.60. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance Holdings, Inc. has a 52 week low of $16.50 and a 52 week high of $26.51.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.12 by $0.32. The company had revenue of $394.87 million during the quarter, compared to analyst estimates of $354.97 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. As a group, analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, May 9th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 2.48%. Universal Insurance’s payout ratio is 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.