Renaissance Technologies LLC Purchases 33,900 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Renaissance Technologies LLC raised its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 357,100 shares of the insurance provider's stock after buying an additional 33,900 shares during the period. Renaissance Technologies LLC owned about 1.26% of Universal Insurance worth $7,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Donald Smith & CO. Inc. increased its stake in shares of Universal Insurance by 11.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock worth $36,234,000 after purchasing an additional 174,843 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Universal Insurance by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider's stock worth $35,266,000 after purchasing an additional 4,480 shares in the last quarter. Geode Capital Management LLC raised its stake in Universal Insurance by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock valued at $15,289,000 after purchasing an additional 49,123 shares during the period. American Century Companies Inc. lifted its holdings in Universal Insurance by 10.4% in the 4th quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock worth $12,823,000 after purchasing an additional 57,424 shares in the last quarter. Finally, CWA Asset Management Group LLC raised its position in shares of Universal Insurance by 100.0% during the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock valued at $12,017,000 after buying an additional 285,338 shares during the last quarter. 66.61% of the stock is owned by institutional investors.

Universal Insurance Price Performance

Universal Insurance stock traded down $0.20 during mid-day trading on Thursday, reaching $23.27. 18,632 shares of the company's stock traded hands, compared to its average volume of 176,597. Universal Insurance Holdings, Inc. has a 12-month low of $16.50 and a 12-month high of $24.14. The company has a market cap of $653.65 million, a price-to-earnings ratio of 9.46 and a beta of 0.76. The stock has a 50 day moving average of $21.97 and a two-hundred day moving average of $21.02. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25.

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

Universal Insurance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.75%. Universal Insurance's payout ratio is 32.16%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Universal Insurance from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 26th.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $22.08, for a total value of $441,600.00. Following the transaction, the chairman now owns 990,200 shares of the company's stock, valued at $21,863,616. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 17.50% of the stock is currently owned by corporate 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.