Los Angeles Capital Management LLC Decreases Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Los Angeles Capital Management LLC cut its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,183 shares of the insurance provider’s stock after selling 7,032 shares during the period. Los Angeles Capital Management LLC owned about 0.50% of Universal Insurance worth $2,930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AJOVista LLC purchased a new stake in Universal Insurance during the 4th quarter worth about $25,000. Tompkins Financial Corp purchased a new stake in Universal Insurance during the 3rd quarter worth about $153,000. Laurion Capital Management LP purchased a new stake in Universal Insurance during the 3rd quarter worth about $154,000. Aigen Investment Management LP purchased a new stake in Universal Insurance during the 4th quarter worth about $296,000. Finally, Graham Capital Management L.P. purchased a new stake in Universal Insurance during the 3rd quarter worth about $328,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Universal Insurance Stock Down 2.2 %

UVE opened at $18.33 on Friday. The business’s 50-day simple moving average is $19.53 and its 200-day simple moving average is $18.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.44 and a current ratio of 0.44. Universal Insurance Holdings, Inc. has a one year low of $11.15 and a one year high of $22.38. The stock has a market capitalization of $527.90 million, a P/E ratio of 7.19 and a beta of 0.86.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, April 25th. The insurance provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $367.96 million for the quarter, compared to analysts’ expectations of $336.09 million. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. Analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 3.49%. The ex-dividend date was Thursday, May 9th. Universal Insurance’s dividend payout ratio (DPR) is presently 25.10%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total value of $394,400.00. Following the transaction, the chairman now owns 1,162,262 shares in the company, valued at approximately $22,919,806.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Universal Insurance news, Director Michael Pietrangelo sold 12,351 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.43, for a total transaction of $252,330.93. Following the transaction, the director now owns 80,074 shares in the company, valued at approximately $1,635,911.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total value of $394,400.00. Following the transaction, the chairman now owns 1,162,262 shares in the company, valued at approximately $22,919,806.64. The disclosure for this sale can be found here. Insiders have sold 52,351 shares of company stock worth $1,012,931 in the last quarter. Company insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $25.00 price target on shares of Universal Insurance in a report on Monday, April 1st. StockNews.com upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Finally, TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th.

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.