Strs Ohio Purchases Shares of 34,200 Universal Insurance Holdings, Inc. (NYSE:UVE)

Strs Ohio purchased a new stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,200 shares of the insurance provider’s stock, valued at approximately $546,000. Strs Ohio owned 0.12% of Universal Insurance as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in UVE. CWA Asset Management Group LLC bought a new position in shares of Universal Insurance during the 3rd quarter valued at approximately $7,935,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Universal Insurance by 0.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock valued at $6,081,000 after acquiring an additional 2,175 shares during the period. Acadian Asset Management LLC grew its stake in shares of Universal Insurance by 250.2% during the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock valued at $4,765,000 after acquiring an additional 242,895 shares during the period. GSA Capital Partners LLP grew its stake in shares of Universal Insurance by 94.8% during the 3rd quarter. GSA Capital Partners LLP now owns 173,801 shares of the insurance provider’s stock valued at $2,437,000 after acquiring an additional 84,573 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Universal Insurance by 47.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 101,702 shares of the insurance provider’s stock valued at $1,426,000 after acquiring an additional 32,583 shares during the period. 66.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on UVE. StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Friday. TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a research note on Monday, February 26th. Finally, Piper Sandler restated an “overweight” rating and issued a $25.00 price target on shares of Universal Insurance in a research note on Monday, April 1st.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total transaction of $390,600.00. Following the sale, the chairman now directly owns 1,191,390 shares of the company’s stock, valued at approximately $23,267,846.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 17.70% of the company’s stock.

Universal Insurance Trading Down 3.7 %

UVE stock opened at $19.54 on Friday. Universal Insurance Holdings, Inc. has a 1-year low of $11.15 and a 1-year high of $22.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.53 and a quick ratio of 0.53. The company has a market capitalization of $566.07 million, a price-to-earnings ratio of 7.66 and a beta of 0.83. The business has a 50 day simple moving average of $19.55 and a two-hundred day simple moving average of $17.29.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. The business had revenue of $375.46 million for the quarter, compared to analysts’ expectations of $328.12 million. Universal Insurance had a return on equity of 20.25% and a net margin of 5.29%. Research analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.28%. Universal Insurance’s dividend payout ratio (DPR) is 25.10%.

Universal Insurance 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.