Universal Insurance Holdings Inc $UVE Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC lessened its position in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 77.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,264 shares of the insurance provider’s stock after selling 42,111 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Universal Insurance were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UVE. Voya Investment Management LLC grew its holdings in Universal Insurance by 42.9% in the first quarter. Voya Investment Management LLC now owns 43,862 shares of the insurance provider’s stock valued at $1,040,000 after purchasing an additional 13,177 shares during the period. Informed Momentum Co LLC acquired a new stake in Universal Insurance in the 1st quarter valued at $855,000. Hsbc Holdings PLC purchased a new stake in Universal Insurance in the 1st quarter worth $487,000. Nuveen LLC acquired a new position in Universal Insurance during the first quarter worth $2,197,000. Finally, Russell Investments Group Ltd. lifted its holdings in Universal Insurance by 5.3% during the first quarter. Russell Investments Group Ltd. now owns 207,913 shares of the insurance provider’s stock valued at $4,928,000 after purchasing an additional 10,486 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $34.42 on Monday. The business’s 50 day moving average price is $28.88 and its 200 day moving average price is $26.64. The company has a market cap of $965.56 million, a price-to-earnings ratio of 8.12 and a beta of 0.77. 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 Holdings Inc has a one year low of $18.72 and a one year high of $35.84.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 $400.03 million during the quarter, compared to the consensus estimate of $366.36 million. On average, research analysts predict that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, December 5th will be issued a $0.13 dividend. This represents a yield of 195.0%. The ex-dividend date is Friday, December 5th. Universal Insurance’s payout ratio is presently 15.09%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on UVE shares. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. 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.com, Universal Insurance currently has a consensus rating of “Strong Buy”.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $31.40, for a total value of $628,000.00. Following the completion of the transaction, the chairman directly owned 1,283,512 shares in the company, valued at approximately $40,302,276.80. This represents a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jon Springer sold 35,435 shares of Universal Insurance stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $31.41, for a total value of $1,113,013.35. Following the completion of 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 75,435 shares of company stock valued at $2,248,013. Corporate insiders own 16.60% of the company’s stock.

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.