Universal Insurance Holdings, Inc. (NYSE:UVE) Position Trimmed by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in Universal Insurance Holdings, Inc. (NYSE:UVEFree Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,598,720 shares of the insurance provider’s stock after selling 57,958 shares during the period. Dimensional Fund Advisors LP owned approximately 5.48% of Universal Insurance worth $25,548,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Universal Insurance in the fourth quarter worth approximately $6,387,000. Federated Hermes Inc. purchased a new position in Universal Insurance during the 4th quarter worth approximately $593,000. Acadian Asset Management LLC raised its stake in 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 purchasing an additional 242,895 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Universal Insurance during the 4th quarter valued at $473,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Universal Insurance by 0.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock valued at $6,081,000 after purchasing an additional 2,175 shares in the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $19.53, for a total transaction of $390,600.00. Following the completion of the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at approximately $23,267,846.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Michael Pietrangelo sold 12,351 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $20.43, for a total value of $252,330.93. Following the sale, the director now owns 80,074 shares of the company’s stock, valued at $1,635,911.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $19.53, for a total value of $390,600.00. Following the completion of the sale, the chairman now owns 1,191,390 shares in the company, valued at $23,267,846.70. The disclosure for this sale can be found here. Insiders sold a total of 52,351 shares of company stock worth $1,037,331 in the last 90 days. 17.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on UVE. StockNews.com raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th. Finally, Piper Sandler restated an “overweight” rating and set a $25.00 price target on shares of Universal Insurance in a report on Monday, April 1st.

Get Our Latest Report on Universal Insurance

Universal Insurance Stock Performance

Shares of NYSE UVE opened at $19.61 on Tuesday. Universal Insurance Holdings, Inc. has a one year low of $11.15 and a one year high of $22.38. The business’s 50-day moving average price is $19.76 and its two-hundred day moving average price is $18.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $564.77 million, a P/E ratio of 7.69 and a beta of 0.86.

Universal Insurance (NYSE:UVEGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $367.96 million for the quarter, compared to the consensus estimate of $336.09 million. Universal Insurance had a net margin of 5.29% and a return on equity of 19.67%. Analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.26%. Universal Insurance’s dividend payout ratio is presently 25.10%.

About Universal Insurance

(Free Report)

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.

Further Reading

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

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