Point72 Asia Singapore Pte. Ltd. Sells 10,966 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Point72 Asia Singapore Pte. Ltd. lessened its position in Universal Insurance Holdings, Inc. (NYSE:UVE) by 42.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,918 shares of the insurance provider’s stock after selling 10,966 shares during the period. Point72 Asia Singapore Pte. Ltd. owned about 0.05% of Universal Insurance worth $280,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bank of Montreal Can increased its position in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock worth $7,040,000 after buying an additional 276,700 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Universal Insurance by 44.5% during the 2nd 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 period. Allspring Global Investments Holdings LLC increased its holdings 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 worth $1,193,000 after acquiring an additional 58,214 shares during the last quarter. Highland Capital Management LLC raised its stake in 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 acquiring an additional 43,718 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in Universal Insurance during the 2nd quarter valued at $789,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total transaction of $449,400.00. Following the transaction, the chairman now owns 1,082,262 shares in the company, valued at approximately $24,318,427.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Universal Insurance news, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction on Friday, August 16th. The stock was 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 of the company’s stock, valued at approximately $9,729,146.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the sale, the chairman now owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,173 shares of company stock valued at $1,571,502. 17.50% of the stock is owned by company insiders.

Universal Insurance Trading Up 1.3 %

Shares of UVE stock opened at $22.25 on Friday. Universal Insurance Holdings, Inc. has a 12-month low of $13.10 and a 12-month high of $23.27. The company has a market capitalization of $633.68 million, a PE ratio of 8.73 and a beta of 0.89. The firm has a 50 day moving average price of $20.51 and a two-hundred day moving average price of $19.78. 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 (NYSE:UVE) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The business had revenue of $380.21 million during the quarter, compared to analysts’ expectations of $340.09 million. During the same period last year, the firm posted $0.87 EPS. As a group, analysts predict that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 2nd were paid a $0.16 dividend. The ex-dividend date was Friday, August 2nd. This represents a $0.64 annualized dividend and a dividend yield of 2.88%. Universal Insurance’s dividend payout ratio (DPR) is presently 25.10%.

Wall Street Analysts Forecast Growth

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

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.