Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 15.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,574 shares of the insurance provider’s stock after acquiring an additional 23,325 shares during the period. JPMorgan Chase & Co. owned 0.60% of Universal Insurance worth $3,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Universal Insurance by 7.7% in the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock valued at $15,289,000 after purchasing an additional 49,123 shares during the period. CWA Asset Management Group LLC grew its position in Universal Insurance by 100.0% in the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after buying an additional 285,338 shares during the last quarter. Barclays PLC increased its stake in Universal Insurance by 69.5% in the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after buying an additional 28,278 shares during the period. Jane Street Group LLC raised its position in Universal Insurance by 2,142.1% during the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock worth $1,325,000 after buying an additional 57,108 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Universal Insurance by 128,888.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider’s stock worth $1,222,000 after buying an additional 58,000 shares during the last quarter. 66.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now owns 990,200 shares of the company’s stock, valued at $21,863,616. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 17.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 26th.

Universal Insurance Stock Up 1.3 %

Universal Insurance stock opened at $23.21 on Monday. The stock’s 50 day moving average price is $21.80 and its 200 day moving average price is $20.97. The company has a market cap of $651.97 million, a PE ratio of 9.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. Universal Insurance Holdings, Inc. has a 1-year low of $16.50 and a 1-year high of $24.14.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The business had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. On average, sell-side analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.76%. Universal Insurance’s dividend payout ratio is presently 32.16%.

Universal Insurance Company 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.