LSV Asset Management Has $8.75 Million Stock Position in Universal Insurance Holdings Inc $UVE

LSV Asset Management lowered its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 3.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 315,702 shares of the insurance provider’s stock after selling 12,600 shares during the period. LSV Asset Management owned about 1.11% of Universal Insurance worth $8,754,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Quarry LP acquired a new stake in Universal Insurance in the first quarter valued at $59,000. State of Wyoming acquired a new position in Universal Insurance during the 1st quarter worth about $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Universal Insurance by 57.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider’s stock valued at $138,000 after buying an additional 2,127 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Universal Insurance in the first quarter valued at about $148,000. Finally, CWM LLC increased its stake in shares of Universal Insurance by 80.2% in the second quarter. CWM LLC now owns 6,367 shares of the insurance provider’s stock valued at $177,000 after buying an additional 2,833 shares during the period. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Trading Down 0.7%

NYSE UVE opened at $33.56 on Thursday. The stock has a market capitalization of $941.41 million, a P/E ratio of 7.92 and a beta of 0.77. The business has a 50 day simple moving average of $29.43 and a 200 day simple moving average of $26.82. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.56 and a quick ratio of 0.58. Universal Insurance Holdings Inc has a one year low of $18.72 and a one year high of $35.84.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.26. The firm had revenue of $400.03 million for the quarter, compared to analyst estimates of $366.36 million. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%. Research analysts expect that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, December 5th will be given a dividend of $0.13 per share. This represents a dividend yield of 195.0%. The ex-dividend date of this dividend is Friday, December 5th. Universal Insurance’s dividend payout ratio is 15.09%.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $31.40, for a total value of $628,000.00. Following the completion of the sale, the chairman owned 1,283,512 shares of the company’s stock, valued at approximately $40,302,276.80. This trade represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jon Springer sold 35,435 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $31.41, for a total value of $1,113,013.35. Following the transaction, the director directly owned 271,628 shares in the company, valued at $8,531,835.48. The trade was a 11.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 99,743 shares of company stock worth $3,086,882. Corporate insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, Universal Insurance presently has a consensus rating of “Strong Buy”.

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.