JPMorgan Chase & Co. lifted its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,574 shares of the insurance provider's stock after acquiring an additional 23,325 shares during the period. JPMorgan Chase & Co. owned approximately 0.60% of Universal Insurance worth $3,592,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of Universal Insurance by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock worth $15,289,000 after buying an additional 49,123 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Universal Insurance by 10.4% during the 4th quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock worth $12,823,000 after buying an additional 57,424 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in Universal Insurance by 100.0% in 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Universal Insurance by 12.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 195,267 shares of the insurance provider's stock valued at $4,112,000 after acquiring an additional 21,035 shares during the last quarter. Institutional investors and hedge funds own 66.61% 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 report on Wednesday, March 26th.
Read Our Latest Research Report on UVE
Insider Buying and Selling
In other news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now owns 990,200 shares of the company's stock, valued at approximately $21,863,616. This trade represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.50% of the stock is owned by corporate insiders.
Universal Insurance Price Performance
Shares of NYSE UVE traded up $0.10 during midday trading on Wednesday, reaching $23.48. 135,903 shares of the company were exchanged, compared to its average volume of 176,972. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $24.40. The stock has a market cap of $659.69 million, a P/E ratio of 9.54 and a beta of 0.76. 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's 50-day moving average price is $21.91 and its 200-day moving average price is $21.00.
Universal Insurance (NYSE:UVE - Get Free Report) last issued its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $384.81 million during the quarter, compared to analysts' expectations of $349.91 million. On average, sell-side analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.
Universal Insurance Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, May 9th will be issued a $0.16 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a yield of 2.73%. Universal Insurance's dividend payout ratio (DPR) is presently 32.16%.
About Universal Insurance
(
Free Report)
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.
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