Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Purchased by Algert Global LLC

Algert Global LLC raised its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 46.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,059 shares of the insurance provider’s stock after acquiring an additional 25,210 shares during the period. Algert Global LLC owned approximately 0.28% of Universal Insurance worth $1,752,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Boston Partners purchased a new stake in shares of Universal Insurance in the first quarter valued at about $758,000. Vanguard Group Inc. increased its holdings in shares of Universal Insurance by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after buying an additional 41,425 shares during the last quarter. Cornercap Investment Counsel Inc. raised its position in shares of Universal Insurance by 90.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 56,502 shares of the insurance provider’s stock valued at $1,060,000 after buying an additional 26,873 shares during the period. Highland Capital Management LLC lifted its holdings in Universal Insurance by 135.1% in the second 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 last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Universal Insurance during the 2nd quarter worth $783,000. 66.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 15,064 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $22.46, for a total transaction of $338,337.44. Following the completion of the sale, the chairman now owns 1,047,198 shares in the company, valued at $23,520,067.08. This represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 55,064 shares of company stock worth $1,191,937. Corporate insiders own 17.50% of the company’s stock.

Universal Insurance Stock Performance

NYSE:UVE opened at $22.79 on Thursday. The stock has a market capitalization of $644.73 million, a P/E ratio of 9.35 and a beta of 0.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. Universal Insurance Holdings, Inc. has a fifty-two week low of $15.63 and a fifty-two week high of $23.39. The company has a 50 day moving average price of $20.90 and a 200 day moving average price of $20.07.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results 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. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $387.55 million for the quarter, compared to analysts’ expectations of $341.98 million. During the same quarter in the prior year, the company earned ($0.16) earnings per share. Equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, December 6th. Universal Insurance’s dividend payout ratio (DPR) is 26.02%.

About Universal Insurance

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.