Universal Insurance Holdings Inc $UVE Stake Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in Universal Insurance Holdings Inc (NYSE:UVE) by 219.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,898 shares of the insurance provider’s stock after purchasing an additional 43,213 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.22% of Universal Insurance worth $1,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UVE. Goldman Sachs Group Inc. boosted its holdings in shares of Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after buying an additional 69,289 shares during the period. American Century Companies Inc. lifted its holdings in Universal Insurance by 13.3% in the second quarter. American Century Companies Inc. now owns 757,747 shares of the insurance provider’s stock worth $21,012,000 after acquiring an additional 89,106 shares during the last quarter. Geode Capital Management LLC boosted its stake in Universal Insurance by 6.9% in the second quarter. Geode Capital Management LLC now owns 681,853 shares of the insurance provider’s stock valued at $18,909,000 after acquiring an additional 44,168 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Universal Insurance by 43.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 454,496 shares of the insurance provider’s stock valued at $12,603,000 after acquiring an additional 138,732 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Universal Insurance by 171.5% during the first 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 during the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Universal Insurance news, Director Richard D. Peterson sold 1,855 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $33.61, for a total value of $62,346.55. Following the completion of the sale, the director directly owned 8,319 shares in the company, valued at $279,601.59. This represents a 18.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, December 19th. The shares were sold at an average price of $33.82, for a total value of $676,400.00. Following the transaction, the chairman owned 1,243,512 shares in the company, valued at approximately $42,055,575.84. This trade represents a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 66,855 shares of company stock valued at $2,259,697 over the last quarter. Corporate insiders own 16.60% of the company’s stock.

Universal Insurance Stock Performance

Shares of UVE opened at $31.88 on Friday. The firm has a 50-day moving average price of $31.65 and a 200 day moving average price of $29.25. The firm has a market capitalization of $894.12 million, a PE ratio of 7.52 and a beta of 0.70. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20. Universal Insurance Holdings Inc has a 52-week low of $19.46 and a 52-week high of $35.84.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, March 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, March 6th. Universal Insurance’s dividend payout ratio (DPR) is currently 15.09%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Wall Street Zen raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Zacks Research downgraded shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Finally, Piper Sandler upped their price target on shares of Universal Insurance from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

About Universal Insurance

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.