Charles Schwab Investment Management Inc. Sells 63,532 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Charles Schwab Investment Management Inc. cut its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 18.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 283,863 shares of the insurance provider's stock after selling 63,532 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.00% of Universal Insurance worth $5,978,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Quarry LP boosted its stake in Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after purchasing an additional 776 shares during the period. Principal Financial Group Inc. boosted its position in shares of Universal Insurance by 9.7% during the fourth quarter. Principal Financial Group Inc. now owns 24,415 shares of the insurance provider's stock worth $514,000 after buying an additional 2,160 shares during the period. Rockwood Wealth Management LLC raised its position in Universal Insurance by 48.4% in the 4th quarter. Rockwood Wealth Management LLC now owns 16,373 shares of the insurance provider's stock valued at $337,000 after buying an additional 5,337 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Universal Insurance in the 3rd quarter valued at approximately $206,000. Finally, PDT Partners LLC acquired a new position in Universal Insurance during the 3rd quarter worth approximately $225,000. 66.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Wednesday.

Remove Ads

Universal Insurance Stock Up 2.4 %

Shares of Universal Insurance stock traded up $0.56 during trading hours on Friday, reaching $23.41. 250,464 shares of the company's stock were exchanged, compared to its average volume of 175,304. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $20.69 and a two-hundred day moving average of $20.84. The stock has a market cap of $657.59 million, a P/E ratio of 9.51 and a beta of 0.84. Universal Insurance Holdings, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $23.55.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly 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 firm had revenue of $384.81 million during the quarter, compared to the consensus estimate of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. On average, sell-side analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 7th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date was 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%.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now directly owns 990,200 shares of the company's stock, valued at $21,863,616. The trade was a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 90,000 shares of company stock worth $1,908,700. Company insiders own 17.50% of the company's stock.

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.