Los Angeles Capital Management LLC Decreases Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Los Angeles Capital Management LLC lessened its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVEGet Rating) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 161,492 shares of the insurance provider’s stock after selling 20,508 shares during the period. Los Angeles Capital Management LLC owned approximately 0.53% of Universal Insurance worth $1,591,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its stake in Universal Insurance by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 25,286 shares of the insurance provider’s stock worth $350,000 after purchasing an additional 916 shares during the period. Whittier Trust Co. purchased a new stake in Universal Insurance in the second quarter worth $26,000. KBC Group NV purchased a new stake in Universal Insurance in the second quarter worth $26,000. Allspring Global Investments Holdings LLC increased its stake in Universal Insurance by 137.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,943 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 2,282 shares during the period. Finally, Nordea Investment Management AB increased its stake in Universal Insurance by 1.4% in the second quarter. Nordea Investment Management AB now owns 196,696 shares of the insurance provider’s stock worth $2,486,000 after purchasing an additional 2,682 shares during the period. Hedge funds and other institutional investors own 66.85% of the company’s stock.

Universal Insurance Stock Performance

UVE opened at $12.24 on Monday. Universal Insurance Holdings, Inc. has a 12-month low of $8.39 and a 12-month high of $18.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.69. The business’s fifty day simple moving average is $10.82 and its 200-day simple moving average is $11.06.

Universal Insurance (NYSE:UVEGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The insurance provider reported ($2.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.51) by $0.24. Universal Insurance had a negative return on equity of 22.70% and a negative net margin of 8.06%. The business had revenue of $312.81 million for the quarter, compared to the consensus estimate of $307.12 million. As a group, sell-side analysts expect that Universal Insurance Holdings, Inc. will post -1.4 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 9th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date was Thursday, December 8th. Universal Insurance’s payout ratio is currently -20.65%.

Insider Activity at Universal Insurance

In related news, Director Francis Xavier Mccahill III acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were bought at an average price of $10.17 per share, with a total value of $30,510.00. Following the completion of the transaction, the director now directly owns 13,337 shares in the company, valued at $135,637.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Francis Xavier Mccahill III acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were bought at an average price of $10.17 per share, with a total value of $30,510.00. Following the completion of the transaction, the director now directly owns 13,337 shares in the company, valued at $135,637.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Springer sold 16,861 shares of the firm’s stock in a transaction dated Wednesday, December 7th. The shares were sold at an average price of $11.34, for a total value of $191,203.74. Following the sale, the director now directly owns 523,672 shares in the company, valued at approximately $5,938,440.48. The disclosure for this sale can be found here. 16.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UVE has been the topic of a number of recent analyst reports. StockNews.com lowered Universal Insurance from a “buy” rating to a “hold” rating in a research note on Friday, January 13th. TheStreet downgraded Universal Insurance from a “c-” rating to a “d+” rating in a research report on Thursday, October 27th. Finally, Piper Sandler increased their price target on Universal Insurance from $10.00 to $11.00 in a research report on Tuesday, January 10th.

Universal Insurance Profile

(Get Rating)

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company 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.

Recommended Stories

Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.