Universal Insurance Holdings Inc $UVE Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its position in Universal Insurance Holdings Inc (NYSE:UVE) by 348.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,225 shares of the insurance provider’s stock after buying an additional 35,150 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.16% of Universal Insurance worth $1,254,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new position in Universal Insurance in the 2nd quarter worth $249,000. AlphaQuest LLC lifted its holdings in Universal Insurance by 11.4% in the 2nd quarter. AlphaQuest LLC now owns 15,895 shares of the insurance provider’s stock worth $441,000 after buying an additional 1,626 shares in the last quarter. Moran Wealth Management LLC acquired a new position in Universal Insurance in the 2nd quarter worth $259,000. CWM LLC lifted its holdings in Universal Insurance by 80.2% in the 2nd quarter. CWM LLC now owns 6,367 shares of the insurance provider’s stock worth $177,000 after buying an additional 2,833 shares in the last quarter. Finally, Inspire Investing LLC acquired a new position in Universal Insurance in the 2nd quarter worth $902,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

Wall Street Analysts Forecast Growth

UVE has been the subject of several research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research report on Wednesday, October 8th. Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. Finally, Wall Street Zen downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One equities research 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.com, the company presently has a consensus rating of “Strong Buy”.

Insider Activity

In related news, Director Jon Springer sold 35,435 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $31.41, for a total transaction of $1,113,013.35. Following the sale, the director owned 271,628 shares in the company, valued at $8,531,835.48. This represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $31.40, for a total transaction of $628,000.00. Following the sale, the chairman owned 1,283,512 shares in the company, valued at approximately $40,302,276.80. This trade represents a 1.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 75,435 shares of company stock worth $2,248,013. 16.60% of the stock is owned by company insiders.

Universal Insurance Price Performance

UVE opened at $31.07 on Tuesday. The company has a market capitalization of $879.87 million, a P/E ratio of 7.33 and a beta of 0.79. Universal Insurance Holdings Inc has a 1-year low of $18.72 and a 1-year high of $33.00. The company has a 50-day moving average of $27.21 and a 200-day moving average of $25.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.58 and a current ratio of 0.56.

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