HighTower Advisors LLC Makes New $636,000 Investment in Universal Insurance Holdings, Inc. (NYSE:UVE)

HighTower Advisors LLC acquired a new position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,595 shares of the insurance provider's stock, valued at approximately $636,000. HighTower Advisors LLC owned about 0.10% of Universal Insurance as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP raised its stake in shares of Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider's stock valued at $26,000 after acquiring an additional 1,129 shares during the last quarter. Covestor Ltd increased its holdings in Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock valued at $42,000 after purchasing an additional 1,328 shares during the period. CWM LLC increased its holdings in Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider's stock valued at $56,000 after purchasing an additional 723 shares during the period. Aigen Investment Management LP bought a new position in Universal Insurance during the 3rd quarter worth $202,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Universal Insurance during the 3rd quarter worth about $206,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now owns 1,062,262 shares in the company, valued at $21,468,315.02. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 17.50% of the stock is owned by corporate insiders.

Universal Insurance Trading Up 0.2 %

Shares of NYSE UVE traded up $0.05 during midday trading on Friday, reaching $20.64. The stock had a trading volume of 479,629 shares, compared to its average volume of 185,297. The company's 50 day moving average price is $21.22 and its 200 day moving average price is $20.29. 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 Holdings, Inc. has a twelve month low of $15.78 and a twelve month high of $23.39. The firm has a market cap of $583.82 million, a price-to-earnings ratio of 8.39 and a beta of 0.92.

Universal Insurance (NYSE:UVE - Get Free Report) last released its 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. The business had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same quarter in the previous year, the business earned ($0.16) earnings per share. As a group, sell-side analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.52 annualized dividend and a dividend yield of 2.52%. Universal Insurance's payout ratio is 26.02%.

Wall Street Analysts Forecast Growth

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

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.