Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Acquired by Quest Partners LLC

Quest Partners LLC boosted its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 303.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,704 shares of the insurance provider’s stock after purchasing an additional 23,841 shares during the quarter. Quest Partners LLC owned approximately 0.11% of Universal Insurance worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Universal Insurance by 11,666.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock valued at $1,193,000 after acquiring an additional 58,214 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in Universal Insurance in the fourth quarter valued at approximately $1,901,000. Boston Partners acquired a new position in Universal Insurance during the first quarter worth approximately $758,000. Vanguard Group Inc. raised its stake in Universal Insurance by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after purchasing an additional 41,425 shares during the period. Finally, Highland Capital Management LLC boosted its holdings in shares of Universal Insurance by 135.1% in the 2nd quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after purchasing an additional 43,718 shares during the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th.

Universal Insurance Price Performance

UVE opened at $20.38 on Thursday. The company has a 50 day moving average of $19.83 and a two-hundred day moving average of $19.63. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.26. Universal Insurance Holdings, Inc. has a 52-week low of $12.43 and a 52-week high of $22.38. The company has a market cap of $586.94 million, a P/E ratio of 7.99 and a beta of 0.89.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The company had revenue of $380.21 million for the quarter, compared to analysts’ expectations of $340.09 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. On average, analysts expect that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Friday, August 2nd. Universal Insurance’s dividend payout ratio is presently 25.10%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the transaction, the chairman now directly owns 1,122,262 shares of the company’s stock, valued at $22,445,240. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the transaction, the chairman now owns 1,122,262 shares in the company, valued at $22,445,240. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jon Springer sold 35,173 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the transaction, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. The disclosure for this sale can be found here. Insiders sold 75,173 shares of company stock valued at $1,488,302 over the last 90 days. 17.50% of the stock is owned by corporate insiders.

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.