Los Angeles Capital Management LLC Sells 16,517 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Los Angeles Capital Management LLC lessened its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,353 shares of the insurance provider's stock after selling 16,517 shares during the quarter. Los Angeles Capital Management LLC owned 0.40% of Universal Insurance worth $2,366,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Covestor Ltd boosted its position in Universal Insurance by 240.1% during 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 last quarter. Quarry LP boosted its holdings in shares of Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock valued at $48,000 after buying an additional 776 shares during the last quarter. Aigen Investment Management LP bought a new position in shares of Universal Insurance in the third quarter valued at $202,000. The Manufacturers Life Insurance Company acquired a new position in Universal Insurance during the third quarter worth $206,000. Finally, PDT Partners LLC acquired a new position in Universal Insurance during the third quarter worth $225,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Monday, February 24th.

Remove Ads

Universal Insurance Stock Performance

UVE stock traded up $0.10 during midday trading on Monday, reaching $22.28. 147,626 shares of the company were exchanged, compared to its average volume of 142,488. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $23.39. The firm has a market capitalization of $630.07 million, a price-to-earnings ratio of 9.05 and a beta of 0.91. The business has a 50-day moving average price of $20.11 and a two-hundred day moving average price of $20.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.16. The business had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. Equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a dividend of $0.16 per share. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. This represents a $0.64 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, March 7th. Universal Insurance's dividend payout ratio (DPR) is presently 32.16%.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the transaction, the chairman now directly owns 985,320 shares of the company's stock, valued at approximately $20,208,913.20. This trade represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jon Springer sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,000 shares of company stock worth $2,424,450 in the last ninety days. 17.50% of the stock is owned by company insiders.

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.