Allspring Global Investments Holdings LLC Has $373,000 Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Allspring Global Investments Holdings LLC reduced its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 77.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,711 shares of the insurance provider's stock after selling 60,576 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Universal Insurance worth $373,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in Universal Insurance by 7.7% in the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock worth $15,289,000 after purchasing an additional 49,123 shares during the period. CWA Asset Management Group LLC raised its holdings in Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock worth $12,017,000 after purchasing an additional 285,338 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock worth $7,698,000 after purchasing an additional 63,582 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Universal Insurance by 16.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,232 shares of the insurance provider's stock worth $3,861,000 after purchasing an additional 24,919 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Universal Insurance by 35.7% in the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock worth $3,263,000 after purchasing an additional 38,767 shares during the period. 66.61% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Jon Springer sold 25,000 shares of the firm's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the sale, the director now owns 383,228 shares in the company, valued at approximately $7,905,993.64. This trade represents a 6.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Sean P. Downes sold 50,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the sale, the chairman now owns 985,320 shares of the company's stock, valued at approximately $20,208,913.20. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock valued at $2,424,450 in the last quarter. Company insiders own 17.50% of the company's stock.

Universal Insurance Stock Up 0.9 %

Shares of NYSE:UVE traded up $0.21 during midday trading on Friday, reaching $22.15. 224,390 shares of the company were exchanged, compared to its average volume of 142,359. Universal Insurance Holdings, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $23.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $20.08 and a two-hundred day simple moving average of $20.70. The firm has a market cap of $626.39 million, a PE ratio of 9.00 and a beta of 0.91.

Universal Insurance (NYSE:UVE - Get Free Report) last released its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.16. The business had revenue of $384.81 million during the quarter, compared to the consensus estimate of $349.91 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. As a group, sell-side analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Universal Insurance's previous quarterly dividend of $0.13. Universal Insurance's dividend payout ratio (DPR) is 32.16%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Monday, February 24th.

Universal Insurance Company 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.