American Century Companies Inc. Has $22.17 Million Stock Holdings in Universal Insurance Holdings Inc $UVE

American Century Companies Inc. boosted its stake in Universal Insurance Holdings Inc (NYSE:UVE) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 843,059 shares of the insurance provider’s stock after buying an additional 85,312 shares during the quarter. American Century Companies Inc. owned approximately 3.01% of Universal Insurance worth $22,172,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in shares of Universal Insurance during the third quarter worth $32,000. Ameritas Investment Partners Inc. increased its holdings in Universal Insurance by 28.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock worth $72,000 after buying an additional 577 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,114 shares during the last quarter. Osaic Holdings Inc. grew its position in Universal Insurance by 11.3% in the second quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after acquiring an additional 534 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of Universal Insurance during the 1st quarter worth $180,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Universal Insurance Stock Performance

NYSE:UVE opened at $34.40 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.52 and a current ratio of 0.52. The firm’s 50-day moving average is $31.65 and its 200-day moving average is $30.47. Universal Insurance Holdings Inc has a 52-week low of $20.32 and a 52-week high of $36.68. The company has a market cap of $963.40 million, a price-to-earnings ratio of 5.45 and a beta of 0.67.

Universal Insurance (NYSE:UVE) last posted its quarterly 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 firm had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $372.99 million. Universal Insurance had a return on equity of 37.28% and a net margin of 11.41%. Equities research analysts anticipate that Universal Insurance Holdings Inc will post 1.66 earnings per share for the current year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, March 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, March 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. Universal Insurance’s payout ratio is currently 10.14%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $33.82, for a total transaction of $676,400.00. Following the completion of the transaction, the chairman directly owned 1,243,512 shares of the company’s stock, valued at approximately $42,055,575.84. This trade represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Donaghy sold 25,000 shares of Universal Insurance stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $34.07, for a total transaction of $851,750.00. Following the sale, the chief executive officer owned 679,961 shares in the company, valued at approximately $23,166,271.27. This trade represents a 3.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 46,855 shares of company stock valued at $1,590,497 in the last 90 days. 17.50% of the stock is currently owned by company insiders.

Universal Insurance 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.