CWA Asset Management Group LLC Increases Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

CWA Asset Management Group LLC grew its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 570,615 shares of the insurance provider’s stock after acquiring an additional 285,338 shares during the period. CWA Asset Management Group LLC owned about 2.02% of Universal Insurance worth $12,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of UVE. JPMorgan Chase & Co. increased its position in shares of Universal Insurance by 35.7% during the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider’s stock worth $3,263,000 after purchasing an additional 38,767 shares in the last quarter. Barclays PLC raised its position in shares of Universal Insurance by 69.5% during the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after buying an additional 28,278 shares during the period. Geode Capital Management LLC increased its holdings 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 purchasing an additional 49,123 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Universal Insurance in the 3rd quarter valued at approximately $241,000. Finally, Jane Street Group LLC increased its position 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 valued at $1,325,000 after purchasing an additional 57,108 shares during the last quarter. 66.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total value of $404,200.00. Following the transaction, the chairman now owns 1,062,262 shares in the company, valued at $21,468,315.02. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the transaction, the director now owns 383,228 shares of the company’s stock, valued at $7,905,993.64. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 110,064 shares of company stock valued at $2,283,787 in the last three months. Insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

Universal Insurance Stock Performance

Shares of NYSE UVE traded down $0.44 during mid-day trading on Monday, hitting $19.54. The company had a trading volume of 19,537 shares, compared to its average volume of 72,654. Universal Insurance Holdings, Inc. has a 12 month low of $15.78 and a 12 month high of $23.39. The stock has a market cap of $552.71 million, a price-to-earnings ratio of 7.94 and a beta of 0.93. The firm’s 50 day simple moving average is $21.48 and its two-hundred day simple moving average is $20.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.30. The business had revenue of $387.55 million for the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, December 6th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.66%. Universal Insurance’s dividend payout ratio is currently 26.02%.

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.