Principal Financial Group Inc. Sells 10,819 Shares of Universal Co. (NYSE:UVV)

Principal Financial Group Inc. reduced its holdings in shares of Universal Co. (NYSE:UVV - Free Report) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,362 shares of the company's stock after selling 10,819 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Universal worth $6,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its holdings in Universal by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 12,400 shares of the company's stock worth $598,000 after purchasing an additional 200 shares during the last quarter. nVerses Capital LLC raised its position in Universal by 22.2% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock worth $58,000 after acquiring an additional 200 shares during the period. Keene & Associates Inc. raised its position in Universal by 3.2% in the second quarter. Keene & Associates Inc. now owns 7,005 shares of the company's stock worth $338,000 after acquiring an additional 220 shares during the period. AlphaMark Advisors LLC raised its position in Universal by 41.7% in the second quarter. AlphaMark Advisors LLC now owns 850 shares of the company's stock worth $41,000 after acquiring an additional 250 shares during the period. Finally, SteelPeak Wealth LLC raised its position in Universal by 6.6% in the third quarter. SteelPeak Wealth LLC now owns 4,648 shares of the company's stock worth $247,000 after acquiring an additional 286 shares during the period. 81.00% of the stock is currently owned by hedge funds and other institutional investors.

Universal Stock Performance

Shares of UVV stock opened at $54.88 on Thursday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 11.29 and a beta of 0.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 2.60. Universal Co. has a 52 week low of $45.19 and a 52 week high of $67.80. The firm's 50-day simple moving average is $51.90 and its two-hundred day simple moving average is $51.01.

Universal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Monday, January 13th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 5.90%. The ex-dividend date of this dividend is Monday, January 13th. Universal's dividend payout ratio is 66.67%.

Universal announced that its Board of Directors has approved a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Universal Company Profile

Universal Corporation processes and supplies leaf tobacco and plant-based ingredients worldwide. The company operates through two segments, Tobacco Operations; and Ingredients Operations. It is involved in the procuring, financing, processing, packing, storing, and shipping leaf tobacco for sale to manufacturers of consumer tobacco products.