17,908 Shares in Universal Insurance Holdings Inc $UVE Purchased by Denali Advisors LLC

Denali Advisors LLC acquired a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) during the 2nd quarter, Holdings Channel reports. The fund acquired 17,908 shares of the insurance provider’s stock, valued at approximately $741,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Universal Insurance in the second quarter worth approximately $111,007,000. Vanguard Group Inc. raised its holdings in Universal Insurance by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 2,007,725 shares of the insurance provider’s stock worth $67,861,000 after acquiring an additional 54,004 shares during the last quarter. Geode Capital Management LLC raised its holdings in Universal Insurance by 19.8% in the 4th quarter. Geode Capital Management LLC now owns 815,484 shares of the insurance provider’s stock worth $27,566,000 after acquiring an additional 134,805 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after acquiring an additional 69,289 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Universal Insurance by 212.3% in the 3rd quarter. Millennium Management LLC now owns 596,370 shares of the insurance provider’s stock valued at $15,685,000 after acquiring an additional 405,403 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Zacks Research downgraded Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings raised Universal Insurance from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday. Wall Street Zen downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Piper Sandler increased their price objective on Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total transaction of $885,400.00. Following the completion of the sale, the chairman owned 1,104,645 shares in the company, valued at approximately $48,902,634.15. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 15.00% of the company’s stock.

Universal Insurance Stock Up 0.2%

Shares of Universal Insurance stock opened at $42.30 on Friday. Universal Insurance Holdings Inc has a twelve month low of $24.03 and a twelve month high of $45.15. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $41.35 and its 200 day moving average is $37.45. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 5.58 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.27. The business had revenue of $419.38 million during the quarter, compared to the consensus estimate of $614.62 million. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. Research analysts anticipate that Universal Insurance Holdings Inc will post 4.85 EPS for the current year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance’s payout ratio is presently 8.44%.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.