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

Universal Insurance Holdings, Inc. (NYSE:UVE - Get Free Report) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 313,000 shares, a drop of 23.5% from the October 31st total of 409,300 shares. Based on an average trading volume of 205,100 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.2% of the shares of the stock are sold short.

Universal Insurance Trading Down 0.7 %

Universal Insurance stock traded down $0.16 during midday trading on Friday, hitting $22.63. 69,317 shares of the stock were exchanged, compared to its average volume of 186,967. Universal Insurance has a fifty-two week low of $15.63 and a fifty-two week high of $23.39. The stock has a market capitalization of $640.11 million, a price-to-earnings ratio of 9.20 and a beta of 0.90. The stock's 50-day simple moving average is $20.92 and its 200 day simple moving average is $20.12. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25.

Universal Insurance (NYSE:UVE - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, beating analysts' consensus estimates of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $387.55 million during the quarter, compared to analysts' expectations of $341.98 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. On average, equities analysts anticipate that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.52 annualized dividend and a dividend yield of 2.30%. Universal Insurance's dividend payout ratio (DPR) is 26.02%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Universal Insurance from a "hold" rating to a "buy" rating in a research report on Sunday, November 10th.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $20.21, for a total value of $404,200.00. Following the sale, the chairman now directly owns 1,062,262 shares of the company's stock, valued at $21,468,315.02. This represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 55,064 shares of company stock valued at $1,191,937 over the last ninety days. 17.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of UVE. Vanguard Group Inc. grew its holdings in Universal Insurance by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider's stock valued at $31,384,000 after purchasing an additional 41,425 shares during the last quarter. Geode Capital Management LLC grew its stake in Universal Insurance by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider's stock valued at $15,289,000 after acquiring an additional 49,123 shares during the last quarter. American Century Companies Inc. raised its position in Universal Insurance by 44.5% during the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider's stock worth $8,814,000 after acquiring an additional 144,647 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Universal Insurance by 283.0% in the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider's stock valued at $7,040,000 after purchasing an additional 276,700 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock valued at $7,698,000 after purchasing an additional 63,582 shares during the last quarter. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.