Versor Investments LP Lowers Position in Universal Insurance Holdings Inc $UVE

Versor Investments LP lessened its stake in Universal Insurance Holdings Inc (NYSE:UVE) by 48.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,900 shares of the insurance provider’s stock after selling 14,700 shares during the quarter. Versor Investments LP owned approximately 0.06% of Universal Insurance worth $537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in UVE. State of Alaska Department of Revenue bought a new stake in shares of Universal Insurance in the third quarter worth about $32,000. Torren Management LLC bought a new stake in shares of Universal Insurance in the fourth quarter worth about $54,000. Tower Research Capital LLC TRC increased its holdings in shares of Universal Insurance by 390.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock worth $74,000 after purchasing an additional 2,114 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Universal Insurance by 11.3% in the second quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 534 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Universal Insurance in the first quarter worth about $180,000. Institutional investors own 66.61% of the company’s stock.

Universal Insurance Trading Down 0.7%

UVE stock opened at $39.13 on Thursday. The company has a market capitalization of $1.09 billion, a PE ratio of 5.80 and a beta of 0.77. Universal Insurance Holdings Inc has a 12 month low of $21.96 and a 12 month high of $41.96. The firm’s 50-day moving average is $35.64 and its 200 day moving average is $33.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.39 by $0.61. The company had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. On average, research analysts anticipate that Universal Insurance Holdings Inc will post 4.75 EPS for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, May 8th. Universal Insurance’s dividend payout ratio (DPR) is currently 9.48%.

Insider Activity

In related news, CAO Kimberly D. Campos sold 879 shares of the firm’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the transaction, the chief accounting officer owned 7,422 shares of the company’s stock, valued at $251,160.48. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $34.60, for a total transaction of $692,000.00. Following the completion of the transaction, the chairman directly owned 1,206,788 shares in the company, valued at $41,754,864.80. This represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,879 shares of company stock worth $1,515,545 in the last ninety days. 15.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

UVE has been the topic of several research reports. Wall Street Zen cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Universal Insurance Profile

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.