Allianz Asset Management GmbH Lowers Position in Universal Insurance Holdings Inc $UVE

Allianz Asset Management GmbH lowered its holdings in Universal Insurance Holdings Inc (NYSE:UVE) by 81.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,685 shares of the insurance provider’s stock after selling 83,850 shares during the period. Allianz Asset Management GmbH owned approximately 0.07% of Universal Insurance worth $546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Voya Investment Management LLC raised its holdings in shares of Universal Insurance by 42.9% in the 1st quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider’s stock valued at $1,040,000 after acquiring an additional 13,177 shares in the last quarter. Informed Momentum Co LLC purchased a new stake in shares of Universal Insurance in the 1st quarter valued at about $855,000. Hsbc Holdings PLC purchased a new stake in shares of Universal Insurance in the 1st quarter valued at about $487,000. Nuveen LLC purchased a new stake in shares of Universal Insurance in the 1st quarter valued at about $2,197,000. Finally, Russell Investments Group Ltd. raised its holdings in shares of Universal Insurance by 5.3% in the 1st quarter. Russell Investments Group Ltd. now owns 207,913 shares of the insurance provider’s stock valued at $4,928,000 after acquiring an additional 10,486 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on UVE shares. Wall Street Zen raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Strong Buy”.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $25.35, for a total transaction of $507,000.00. Following the transaction, the chairman directly owned 1,303,512 shares in the company, valued at $33,044,029.20. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 17.50% of the stock is currently owned by insiders.

Universal Insurance Price Performance

UVE opened at $31.91 on Tuesday. The stock’s 50 day simple moving average is $26.53 and its 200 day simple moving average is $25.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.56 and a quick ratio of 0.58. Universal Insurance Holdings Inc has a 1 year low of $18.72 and a 1 year high of $33.00. The firm has a market cap of $903.69 million, a price-to-earnings ratio of 7.53 and a beta of 0.79.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.26. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%.The business had revenue of $592.77 million for the quarter, compared to analyst estimates of $366.36 million. As a group, analysts predict that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

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.