AlphaQuest LLC Purchases 1,626 Shares of Universal Insurance Holdings Inc $UVE

AlphaQuest LLC lifted its position in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,895 shares of the insurance provider’s stock after acquiring an additional 1,626 shares during the quarter. AlphaQuest LLC owned approximately 0.06% of Universal Insurance worth $441,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in UVE. Quarry LP purchased a new stake in Universal Insurance during the 1st quarter worth about $59,000. State of Wyoming purchased a new stake in Universal Insurance during the 1st quarter worth about $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Universal Insurance by 57.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,829 shares of the insurance provider’s stock worth $138,000 after purchasing an additional 2,127 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Universal Insurance during the 1st quarter worth about $148,000. Finally, CWM LLC lifted its holdings in Universal Insurance by 80.2% during the 2nd quarter. CWM LLC now owns 6,367 shares of the insurance provider’s stock worth $177,000 after purchasing an additional 2,833 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UVE. 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 equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Universal Insurance Stock Performance

NYSE:UVE opened at $31.42 on Thursday. The business’s 50-day moving average price is $26.82 and its two-hundred day moving average price is $25.79. Universal Insurance Holdings Inc has a twelve month low of $18.72 and a twelve month high of $33.00. The stock has a market cap of $889.84 million, a P/E ratio of 7.41 and a beta of 0.79. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 0.20.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share for the quarter, beating 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 firm had revenue of $592.77 million for the quarter, compared to analysts’ expectations of $366.36 million. As a group, equities analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $25.35, for a total value of $507,000.00. Following the sale, the chairman owned 1,303,512 shares of the company’s stock, 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 SEC, which is available at this link. 16.60% of the stock is currently owned by insiders.

About Universal Insurance

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.