Empowered Funds LLC Decreases Stake in Universal Insurance Holdings, Inc. (NYSE:UVE)

Empowered Funds LLC lowered its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 40.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,057 shares of the insurance provider's stock after selling 70,599 shares during the quarter. Empowered Funds LLC owned 0.37% of Universal Insurance worth $2,350,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Quarry LP grew its position in Universal Insurance by 424.4% during the 2nd 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. Covestor Ltd grew its holdings in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock worth $42,000 after acquiring an additional 1,328 shares during the period. CWM LLC raised its position in Universal Insurance by 40.1% during the third 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 Universal Insurance in the second quarter valued at approximately $196,000. Finally, Aigen Investment Management LP acquired a new position in Universal Insurance in the third quarter valued at approximately $202,000. Hedge funds and other institutional investors own 66.61% of the company's stock.

Universal Insurance Price Performance

Shares of UVE stock traded down $0.36 during mid-day trading on Wednesday, hitting $21.97. 18,238 shares of the stock were exchanged, compared to its average volume of 189,157. Universal Insurance Holdings, Inc. has a 52-week low of $15.63 and a 52-week high of $23.27. 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 company has a market cap of $621.53 million, a PE ratio of 9.03 and a beta of 0.90. The firm has a fifty day moving average of $20.74 and a 200 day moving average of $19.99.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. The company had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period last year, the company earned ($0.16) earnings per share. Research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, December 6th. Universal Insurance's dividend payout ratio is presently 26.02%.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the 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 transaction, the chairman now owns 1,062,262 shares of the company's stock, valued at $21,468,315.02. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 55,064 shares of company stock valued at $1,191,937 over the last ninety days. Corporate insiders own 17.50% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Universal Insurance from a "hold" rating to a "buy" rating in a research note on Sunday, November 10th.

Universal Insurance 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.