Universal Insurance Holdings, Inc. (NYSE:UVE) Short Interest Update

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) saw a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 316,700 shares, a drop of 16.3% from the February 13th total of 378,200 shares. Based on an average daily trading volume, of 146,600 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.2% of the shares of the company are sold short.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the sale, the chairman now directly owns 990,200 shares of the company's stock, valued at approximately $21,863,616. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 90,000 shares of company stock worth $1,908,700. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Insurance

Several hedge funds have recently bought and sold shares of UVE. Quarry LP boosted its position in shares of Universal Insurance by 55.6% during the 3rd quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after acquiring an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Universal Insurance in the 4th quarter valued at $103,000. Quantbot Technologies LP increased its stake in shares of Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 5,058 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Universal Insurance during the 4th quarter worth $118,000. Finally, Aquatic Capital Management LLC bought a new stake in shares of Universal Insurance during the 4th quarter worth $121,000. 66.61% of the stock is owned by institutional investors.

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Universal Insurance Stock Performance

Shares of UVE traded down $0.47 during mid-day trading on Friday, hitting $21.31. 487,150 shares of the company's stock were exchanged, compared to its average volume of 169,438. 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 has a 52 week low of $16.50 and a 52 week high of $23.39. The stock's 50-day simple moving average is $20.44 and its 200-day simple moving average is $20.80. The firm has a market cap of $598.75 million, a price-to-earnings ratio of 8.66 and a beta of 0.84.

Universal Insurance (NYSE:UVE - Get Free Report) last posted 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. The firm had revenue of $384.81 million for 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%. On average, equities research analysts expect that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 7th were given a dividend of $0.16 per share. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 7th. This represents a $0.64 annualized dividend and a yield of 3.00%. Universal Insurance's dividend payout ratio is currently 32.16%.

Wall Street Analysts Forecast Growth

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

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.