Geode Capital Management LLC Boosts Stock Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Geode Capital Management LLC raised its stake in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,767 shares of the insurance provider's stock after buying an additional 49,123 shares during the period. Geode Capital Management LLC owned 2.44% of Universal Insurance worth $15,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. HighTower Advisors LLC acquired a new stake in shares of Universal Insurance during the 3rd quarter valued at $636,000. Barclays PLC increased its position in shares of Universal Insurance by 69.5% during the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider's stock worth $1,528,000 after buying an additional 28,278 shares during the period. Cornercap Investment Counsel Inc. raised its stake in Universal Insurance by 90.7% during the second quarter. Cornercap Investment Counsel Inc. now owns 56,502 shares of the insurance provider's stock worth $1,060,000 after buying an additional 26,873 shares during the last quarter. Jane Street Group LLC lifted its holdings in Universal Insurance by 2,142.1% in the third quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider's stock valued at $1,325,000 after buying an additional 57,108 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Universal Insurance by 22.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock valued at $7,698,000 after acquiring an additional 63,582 shares during the last quarter. Institutional investors own 66.61% of the company's stock.

Wall Street Analysts Forecast Growth

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

Universal Insurance Stock Down 0.3 %

NYSE:UVE traded down $0.06 during trading hours on Monday, reaching $20.56. The company had a trading volume of 178,358 shares, compared to its average volume of 183,997. Universal Insurance Holdings, Inc. has a twelve month low of $15.78 and a twelve month 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 firm has a market cap of $581.56 million, a price-to-earnings ratio of 8.36 and a beta of 0.92. The business's 50-day simple moving average is $21.36 and its two-hundred day simple moving average is $20.39.

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

Universal Insurance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, December 6th. This represents a $0.52 annualized dividend and a dividend yield of 2.53%. Universal Insurance's dividend payout ratio is 26.02%.

Insider Transactions at Universal Insurance

In related 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 value of $515,750.00. Following the transaction, the director now owns 383,228 shares of the company's stock, valued at approximately $7,905,993.64. This trade represents a 6.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $404,200.00. Following the sale, the chairman now directly 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 disclosure for this sale can be found here. Insiders have sold 60,064 shares of company stock valued at $1,258,287 over the last ninety days. 17.50% of the stock is owned by company insiders.

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.