Charles Schwab Investment Management Inc. Sells 63,532 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Charles Schwab Investment Management Inc. lessened its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 18.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 283,863 shares of the insurance provider’s stock after selling 63,532 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Universal Insurance were worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC boosted 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 valued at $15,289,000 after acquiring an additional 49,123 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in Universal Insurance by 100.0% during the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after purchasing an additional 285,338 shares during the period. Barclays PLC boosted its holdings in Universal Insurance by 69.5% during the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after purchasing an additional 28,278 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Universal Insurance in the 3rd quarter valued at approximately $636,000. Finally, Jane Street Group LLC raised its holdings in shares of Universal Insurance by 2,142.1% in the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock worth $1,325,000 after buying an additional 57,108 shares in the last quarter. Institutional investors own 66.61% of the company’s stock.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $22.08, for a total value of $441,600.00. Following the completion of the sale, the chairman now owns 990,200 shares in the company, valued at approximately $21,863,616. This trade represents a 1.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 90,000 shares of company stock worth $1,908,700. 17.50% of the stock is currently owned by insiders.

Universal Insurance Stock Up 2.3 %

UVE opened at $21.90 on Tuesday. The firm has a market cap of $615.16 million, a price-to-earnings ratio of 8.90 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The firm’s 50-day simple moving average is $20.50 and its 200-day simple moving average is $20.81. Universal Insurance Holdings, Inc. has a twelve month low of $16.50 and a twelve month high of $23.39.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.16. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million. Equities research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 7th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.92%. This is a boost from Universal Insurance’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 7th. Universal Insurance’s dividend payout ratio (DPR) is currently 32.16%.

Analyst Ratings Changes

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 18th.

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.