Essex Investment Management Co. LLC Has $4.47 Million Stock Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Essex Investment Management Co. LLC increased its stake in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 64.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 201,639 shares of the insurance provider's stock after purchasing an additional 79,138 shares during the quarter. Essex Investment Management Co. LLC owned about 0.71% of Universal Insurance worth $4,468,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Quarry LP lifted its holdings in Universal Insurance by 424.4% in the 2nd 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. CWM LLC lifted its holdings in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider's stock valued at $56,000 after acquiring an additional 723 shares during the last quarter. Occidental Asset Management LLC acquired a new stake in Universal Insurance in the 2nd quarter valued at about $196,000. SG Americas Securities LLC lifted its holdings in Universal Insurance by 17.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider's stock valued at $232,000 after acquiring an additional 1,833 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Universal Insurance during the first quarter valued at about $289,000. Institutional investors and hedge funds own 66.61% of the company's stock.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the chairman now owns 1,122,262 shares in the company, valued at $22,445,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the chairman now owns 1,122,262 shares in the company, valued at approximately $22,445,240. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jon Springer sold 35,173 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the transaction, the director now owns 473,899 shares in the company, valued at $9,729,146.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,173 shares of company stock worth $1,571,502 in the last 90 days. Company insiders own 17.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Monday, August 5th.

Universal Insurance Trading Up 0.3 %

UVE stock traded up $0.05 during mid-day trading on Friday, reaching $19.01. 305,355 shares of the stock traded hands, compared to its average volume of 293,633. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.26. Universal Insurance Holdings, Inc. has a 52-week low of $13.52 and a 52-week high of $23.27. The company has a market cap of $541.40 million, a P/E ratio of 6.72 and a beta of 0.89. The stock's fifty day moving average is $20.58 and its 200-day moving average is $19.78.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.03. The company had revenue of $380.21 million during the quarter, compared to analyst estimates of $340.09 million. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. During the same period in the prior year, the firm earned $0.87 earnings per share. As a group, sell-side analysts expect that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

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.