Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its stake in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 62.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,935 shares of the insurance provider's stock after purchasing an additional 23,830 shares during the period. Rhumbline Advisers owned 0.22% of Universal Insurance worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of UVE. Covestor Ltd raised its stake in shares of Universal Insurance by 240.1% in the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider's stock worth $42,000 after purchasing an additional 1,328 shares during the last quarter. Quarry LP increased its holdings in Universal Insurance by 55.6% in the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after buying an additional 776 shares during the period. Aigen Investment Management LP purchased a new position in Universal Insurance during the 3rd quarter worth approximately $202,000. The Manufacturers Life Insurance Company acquired a new stake in Universal Insurance during the 3rd quarter valued at approximately $206,000. Finally, PDT Partners LLC purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at $225,000. Hedge funds and other institutional investors own 66.61% of the company's stock.

Universal Insurance Stock Performance

Shares of UVE traded down $0.46 during mid-day trading on Friday, reaching $21.12. The company had a trading volume of 191,663 shares, compared to its average volume of 142,795. The stock has a 50 day moving average of $20.18 and a two-hundred day moving average of $20.77. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $593.25 million, a P/E ratio of 8.58 and a beta of 0.84. Universal Insurance Holdings, Inc. has a 52-week low of $16.50 and a 52-week high of $23.39.

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

Universal Insurance Increases Dividend

The firm 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 $0.16 dividend. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 3.03%. Universal Insurance's dividend payout ratio is presently 32.16%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Tuesday.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the sale, the chairman now owns 985,320 shares in the company, valued at $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jon Springer sold 25,000 shares of the firm's stock in a transaction dated 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. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock valued at $2,424,450 in the last three months. 17.50% of the stock is currently owned by company insiders.

About Universal Insurance

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.