Versor Investments LP Purchases New Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Versor Investments LP purchased a new stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 13,170 shares of the insurance provider’s stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 1,129 shares during the period. Covestor Ltd boosted its holdings in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after purchasing an additional 1,328 shares in the last quarter. CWM LLC boosted its holdings in Universal Insurance by 40.1% during the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after purchasing an additional 723 shares in the last quarter. Occidental Asset Management LLC acquired a new stake in Universal Insurance during the second quarter valued at approximately $196,000. Finally, SG Americas Securities LLC boosted its holdings in Universal Insurance by 17.4% during the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after purchasing an additional 1,833 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now owns 1,062,262 shares of the company’s stock, valued at approximately $21,468,315.02. This represents a 1.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 55,064 shares of company stock valued at $1,191,937 in the last three months. 17.50% of the stock is owned by corporate insiders.

Universal Insurance Stock Up 0.6 %

NYSE UVE opened at $22.48 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $20.70 and its two-hundred day moving average is $19.95. The company has a market capitalization of $635.96 million, a price-to-earnings ratio of 9.14 and a beta of 0.90. Universal Insurance Holdings, Inc. has a 1-year low of $15.63 and a 1-year high of $23.27.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) 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 return on equity of 15.43% and a net margin of 4.82%. During the same period in the previous year, the business earned ($0.16) EPS. Equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, December 6th. Universal Insurance’s payout ratio is currently 26.02%.

Wall Street Analyst Weigh In

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

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.