Counterpoint Mutual Funds LLC purchased a new stake in Universal Insurance Holdings, Inc. (NYSE:UVE – Get Rating) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,880 shares of the insurance provider, valued at approximately $97,000.
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Other hedge funds have also made changes to their positions in the company. Great West Life Assurance Co. Can increased its position in Universal Insurance by 3.8% during the first quarter. Great West Life Assurance Co. Can now owns 25,286 shares of the insurance provider worth $350,000 after buying an additional 916 shares in the last quarter. Whittier Trust Co. purchased a new interest in Universal Insurance during the second quarter for approximately $26,000. KBC Group NV purchased a new stake in Universal Insurance during the second quarter for approximately $26,000. Allspring Global Investments Holdings LLC increased its position in Universal Insurance by 137.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,943 shares of the insurance provider worth $38,000 after purchasing an additional 2,282 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Universal Insurance by 1.4% during the second quarter. Nordea Investment Management AB now owns 196,696 shares in the insurance provider worth $2,486,000 after buying an additional 2,682 shares in the last quarter. Hedge funds and other institutional investors own 66.85% of the company’s shares.
Internal activity at Universal Insurance
In other Universal Insurance news, Director Francis Xavier Mccahill III acquired 3,000 shares of the company in a transaction on Monday, October 31. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $30,510.00. Following the acquisition, the director now directly owns 13,337 shares of the company, valued at $135,637.29. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed via this link. In other Universal Insurance news, Director Francis Xavier Mccahill III acquired 3,000 shares of the company in a transaction on Monday, October 31. The shares were purchased at an average cost of $10.17 per share, for a total transaction of $30,510.00. Following the acquisition, the director now directly owns 13,337 shares of the company, valued at $135,637.29. The transaction was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed via this link. Additionally, director Jon Springer sold 16,861 shares of Universal Insurance in a transaction that occurred on Wednesday, December 7. The share sold at an average price of $11.34, for a total value of $191,203.74. Following the sale, the director now owns 523,672 shares of the company, valued at $5,938,440.48. The disclosure of this sale can be found here. The members of the company own 16.10% of the shares of the company.
Universal Insurance Stock Performance
NYSE UVE opened at $12.12 on Friday. The company has a market capitalization of $369.82 million, a P/E ratio of -3.91, and a beta of 0.96. Universal Insurance Holdings, Inc. has a 1-year minimum of $8.39 and a 1-year maximum of $18.59. The firm has a debt to equity ratio of 0.40, a current ratio of 0.69, and a quick ratio of 0.69. The company’s 50-day simple moving average is $10.78 and its 200-day simple moving average is $11.10.
Universal Insurance (NYSE:UVE – Get Rating) last released its quarterly earnings data on Thursday, October 27. The insurance provider reported ($2.27) earnings per share for the quarter, beating the consensus estimate of ($2.51) by $0.24. The business had revenue of $312.81 million in the quarter, compared with analyst estimates of $307.12 million. Universal Insurance had a negative return on equity of 22.70% and a negative net margin of 8.06%. Stock analysts predict Universal Insurance Holdings, Inc. will post -1.4 EPS for the current year.
Universal Insurance Announces Dividends
The company also recently announced a quarterly dividend, which was paid on Friday, December 16. Investors of record on Friday, December 9 received a dividend of $0.16 per share. The ex-dividend date for this dividend was Thursday, December 8. This represents an annualized dividend of $0.64 and a dividend yield of 5.28%. Universal Insurance’s payout rate is currently -20.65%.
Wall Street analysts forecast growth
Several analysts recently commented on the company. StockNews.com downgraded Universal Insurance from a “buy” rating to a “hold” rating in a research report on Friday, January 13. TheStreet downgraded Universal Insurance from a “c-” rating to a “d+” rating in a research note on Thursday, October 27. Finally, Piper Sandler raised her price target on Universal Insurance from $10.00 to $11.00 in a research note on Tuesday, January 10.
Universal insurance profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/renters, condominium unit owners, and home/fire; and offers allied lines, coverage for other structures and coverage for personal property, civil liability and personal items.
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