13,056 Shares in Universal Insurance Holdings Inc $UVE Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,056 shares of the insurance provider’s stock, valued at approximately $540,000.

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Universal Insurance by 4,847.3% during the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 2,666 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Universal Insurance by 492.4% during the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after acquiring an additional 2,324 shares in the last quarter. Archer Investment Corp bought a new stake in shares of Universal Insurance during the 1st quarter worth $95,000. Finally, Root Financial Partners LLC grew its holdings in shares of Universal Insurance by 170,750.0% in the 1st quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider’s stock worth $117,000 after acquiring an additional 3,415 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors.

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $43.54 on Friday. The company’s fifty day moving average is $42.01 and its two-hundred day moving average is $37.91. The company has a market cap of $1.21 billion, a P/E ratio of 5.74 and a beta of 0.72. Universal Insurance Holdings Inc has a 12-month low of $24.09 and a 12-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.

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

Universal Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Shareholders of record on Friday, July 31st were given a dividend of $0.16 per share. The ex-dividend date was Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. Universal Insurance’s dividend payout ratio (DPR) is presently 8.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Piper Sandler boosted their target price on Universal Insurance from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Wall Street Zen cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Weiss Ratings upgraded Universal Insurance from a “buy (b)” rating to a “buy (a-)” rating in a report on Monday, August 17th. Finally, Zacks Research lowered shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Universal Insurance presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total transaction of $885,400.00. Following the transaction, the chairman owned 1,104,645 shares of the company’s stock, valued at $48,902,634.15. The trade was a 1.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 15.00% of the company’s stock.

About Universal Insurance

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.