Universal Insurance Holdings Inc $UVE Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC lessened its stake in Universal Insurance Holdings Inc (NYSE:UVE) by 22.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 244,000 shares of the insurance provider’s stock after selling 70,000 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.87% of Universal Insurance worth $6,417,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Universal Insurance by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock worth $331,000 after buying an additional 630 shares during the period. Millennium Management LLC raised its position in shares of Universal Insurance by 171.5% in the 1st quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock valued at $8,148,000 after purchasing an additional 217,184 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Universal Insurance by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after acquiring an additional 69,289 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Universal Insurance by 73.1% during the first quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider’s stock worth $1,939,000 after purchasing an additional 34,556 shares during the last quarter. Finally, Strs Ohio bought a new stake in Universal Insurance in the first quarter valued at about $180,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $34.32 on Monday. The stock has a fifty day moving average of $31.72 and a 200-day moving average of $30.75. The company has a market capitalization of $961.16 million, a PE ratio of 5.44 and a beta of 0.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52. Universal Insurance Holdings Inc has a one year low of $20.83 and a one year high of $36.68.

Universal Insurance (NYSE:UVE) last announced its earnings results on Tuesday, February 24th. The insurance provider reported $2.17 EPS for the quarter, beating the consensus estimate of $1.30 by $0.87. The business had revenue of $403.57 million during the quarter, compared to the consensus estimate of $372.99 million. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%. As a group, equities analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, March 6th. Universal Insurance’s payout ratio is presently 10.14%.

Analysts Set New Price Targets

Several research firms have weighed in on UVE. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, January 21st. Piper Sandler boosted their price target on shares of Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Wall Street Zen raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 27th. Finally, Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $40.00.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, December 19th. The stock was sold at an average price of $33.82, for a total transaction of $676,400.00. Following the transaction, the chairman owned 1,243,512 shares in the company, valued at approximately $42,055,575.84. The trade was a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Donaghy sold 25,000 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $34.07, for a total value of $851,750.00. Following the completion of the transaction, the chief executive officer owned 679,961 shares in the company, valued at $23,166,271.27. This represents a 3.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,855 shares of company stock valued at $1,590,497 over the last quarter. Company insiders own 17.50% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.