Jane Street Group LLC Has $1.33 Million Stock Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Jane Street Group LLC increased its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 2,142.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,774 shares of the insurance provider's stock after purchasing an additional 57,108 shares during the period. Jane Street Group LLC owned approximately 0.21% of Universal Insurance worth $1,325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of UVE. HighTower Advisors LLC bought a new position in shares of Universal Insurance during the third quarter worth about $636,000. Cornercap Investment Counsel Inc. boosted its position in Universal Insurance by 90.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 56,502 shares of the insurance provider's stock worth $1,060,000 after acquiring an additional 26,873 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Universal Insurance by 22.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock worth $7,698,000 after acquiring an additional 63,582 shares in the last quarter. Deerfield Management Company L.P. Series C acquired a new stake in shares of Universal Insurance in the second quarter valued at approximately $783,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Universal Insurance by 80.5% in the third quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider's stock worth $2,946,000 after purchasing an additional 59,290 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Stock Down 1.9 %

Shares of Universal Insurance stock traded down $0.39 on Friday, reaching $20.62. 131,500 shares of the company were exchanged, compared to its average volume of 184,020. The company has a market capitalization of $583.26 million, a price-to-earnings ratio of 8.38 and a beta of 0.92. 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 $21.36 and a 200 day moving average of $20.38. Universal Insurance Holdings, Inc. has a one year low of $15.78 and a one year high of $23.39.

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

Universal Insurance Cuts Dividend

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

Insider Transactions at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the sale, the director now directly owns 383,228 shares of the company's stock, valued at $7,905,993.64. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,064 shares of company stock worth $1,258,287. 17.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Universal Insurance from a "hold" rating to a "buy" rating in a research report 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.