CWA Asset Management Group LLC Makes New $6.32 Million Investment in Universal Insurance Holdings, Inc. (NYSE:UVE)

CWA Asset Management Group LLC purchased a new position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 285,277 shares of the insurance provider's stock, valued at approximately $6,322,000. CWA Asset Management Group LLC owned 1.00% of Universal Insurance at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in UVE. Quarry LP grew its stake in Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider's stock worth $26,000 after purchasing an additional 1,129 shares during the period. CWM LLC increased its stake in shares of Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider's stock valued at $56,000 after acquiring an additional 723 shares in the last quarter. Occidental Asset Management LLC acquired a new position in shares of Universal Insurance during the 2nd quarter valued at $196,000. SG Americas Securities LLC boosted its stake in Universal Insurance by 17.4% during the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider's stock worth $232,000 after acquiring an additional 1,833 shares in the last quarter. Finally, Bailard Inc. grew its holdings in Universal Insurance by 33.3% in the second quarter. Bailard Inc. now owns 16,800 shares of the insurance provider's stock worth $315,000 after purchasing an additional 4,200 shares during the period. 66.61% of the stock is owned by institutional investors.

Universal Insurance Stock Up 1.1 %

Universal Insurance stock traded up $0.24 during mid-day trading on Friday, reaching $21.72. The stock had a trading volume of 171,154 shares, compared to its average volume of 192,474. The firm has a market capitalization of $614.37 million, a PE ratio of 8.83 and a beta of 0.90. Universal Insurance Holdings, Inc. has a fifty-two week low of $15.63 and a fifty-two week high of $23.27. The stock's 50-day simple moving average is $20.57 and its 200-day simple moving average is $19.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $387.55 million during the quarter, compared to the consensus estimate of $341.98 million. During the same quarter last year, the firm posted ($0.16) EPS. On average, sell-side analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, December 6th. Universal Insurance's payout ratio is presently 26.02%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Universal Insurance from a "strong-buy" rating to a "hold" rating in a report on Saturday, November 2nd.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the completion of the sale, the chairman now directly owns 1,062,262 shares of the company's stock, valued at approximately $21,468,315.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now directly owns 1,062,262 shares in the company, valued at approximately $21,468,315.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total transaction of $722,101.69. Following the transaction, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,173 shares of company stock worth $1,575,702 in the last quarter. Insiders own 17.50% of the company's stock.

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.