BNP Paribas Financial Markets Buys 59,290 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

BNP Paribas Financial Markets grew its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 80.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,939 shares of the insurance provider's stock after purchasing an additional 59,290 shares during the period. BNP Paribas Financial Markets owned about 0.47% of Universal Insurance worth $2,946,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Universal Insurance by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider's stock worth $31,384,000 after acquiring an additional 41,425 shares during the period. American Century Companies Inc. raised its position in Universal Insurance by 44.5% during the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider's stock valued at $8,814,000 after purchasing an additional 144,647 shares in the last quarter. Bank of Montreal Can lifted its stake in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider's stock worth $7,040,000 after purchasing an additional 276,700 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock valued at $7,698,000 after purchasing an additional 63,582 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Universal Insurance by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 300,379 shares of the insurance provider's stock valued at $5,635,000 after purchasing an additional 13,856 shares during the last quarter. 66.61% of the stock is owned by institutional investors.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the completion of the transaction, the chairman now owns 1,082,262 shares of the company's stock, valued at $24,318,427.14. This represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 55,064 shares of company stock worth $1,191,937. 17.50% of the stock is currently owned by insiders.

Universal Insurance Price Performance

Shares of Universal Insurance stock traded down $0.48 during midday trading on Friday, hitting $21.87. 95,675 shares of the company traded hands, compared to its average volume of 185,671. The stock has a market cap of $618.70 million, a price-to-earnings ratio of 9.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The firm's fifty day moving average price is $20.96 and its 200-day moving average price is $20.18. Universal Insurance Holdings, Inc. has a 12 month low of $15.63 and a 12 month high of $23.39.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, topping analysts' consensus estimates of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $387.55 million for the quarter, compared to analysts' expectations of $341.98 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. 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 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be issued a $0.13 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.38%. Universal Insurance's payout ratio is presently 26.02%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Universal Insurance from a "hold" rating to a "buy" rating in a research report on Sunday, November 10th.

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.