Invesco Ltd. Has $4.27 Million Stock Position in Universal Insurance Holdings Inc $UVE

Invesco Ltd. reduced its stake in Universal Insurance Holdings Inc (NYSE:UVE) by 12.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 179,981 shares of the insurance provider’s stock after selling 24,541 shares during the quarter. Invesco Ltd. owned about 0.64% of Universal Insurance worth $4,266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of UVE. Wells Fargo & Company MN grew its position in shares of Universal Insurance by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 13,804 shares of the insurance provider’s stock valued at $291,000 after purchasing an additional 732 shares during the last quarter. Barclays PLC boosted its stake in Universal Insurance by 7.1% in the 4th quarter. Barclays PLC now owns 73,857 shares of the insurance provider’s stock valued at $1,555,000 after purchasing an additional 4,888 shares during the period. Dimensional Fund Advisors LP grew its holdings in Universal Insurance by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider’s stock valued at $31,510,000 after buying an additional 6,250 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Universal Insurance during the 4th quarter worth $433,000. Finally, Aquatic Capital Management LLC bought a new position in Universal Insurance during the 4th quarter worth $121,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $24.33 on Friday. The company has a 50 day moving average of $24.79 and a 200-day moving average of $24.06. Universal Insurance Holdings Inc has a 1-year low of $16.50 and a 1-year high of $28.49. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. The company has a market cap of $688.88 million, a PE ratio of 10.62 and a beta of 0.87.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. The business had revenue of $596.72 million for the quarter, compared to analysts’ expectations of $359.98 million. As a group, equities research analysts forecast that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Friday, August 1st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.6%. Universal Insurance’s payout ratio is 27.95%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 25,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $26.91, for a total value of $672,750.00. Following the sale, the chairman directly owned 926,667 shares of the company’s stock, valued at $24,936,608.97. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.60% of the stock is currently owned by corporate insiders.

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.