Assenagon Asset Management S.A. Takes Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Assenagon Asset Management S.A. acquired a new stake in Universal Insurance Holdings, Inc. (NYSE:UVE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 72,911 shares of the insurance provider’s stock, valued at approximately $2,187,000. Assenagon Asset Management S.A. owned approximately 0.21% of Universal Insurance as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in UVE. Nuveen Asset Management LLC bought a new stake in shares of Universal Insurance in the 2nd quarter valued at $11,764,000. Marshall Wace LLP bought a new stake in shares of Universal Insurance in the 2nd quarter valued at $5,386,000. Renaissance Technologies LLC bought a new stake in shares of Universal Insurance in the 2nd quarter valued at $2,890,000. Morgan Stanley increased its stake in shares of Universal Insurance by 79.2% in the 2nd quarter. Morgan Stanley now owns 141,508 shares of the insurance provider’s stock valued at $3,948,000 after acquiring an additional 62,535 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Universal Insurance by 1.2% in the 2nd quarter. BlackRock Inc. now owns 4,657,060 shares of the insurance provider’s stock valued at $129,932,000 after acquiring an additional 53,753 shares in the last quarter. Institutional investors own 73.32% of the company’s stock.

Separately, TheStreet lowered shares of Universal Insurance from a “b-” rating to a “c” rating in a research note on Thursday, August 15th.

Shares of UVE stock opened at $28.95 on Friday. The firm has a market capitalization of $988.93 million, a PE ratio of 8.93 and a beta of 0.95. The firm has a fifty day simple moving average of $28.10 and a two-hundred day simple moving average of $28.32. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.02. Universal Insurance Holdings, Inc. has a 12 month low of $23.57 and a 12 month high of $48.46.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.05 EPS for the quarter. The business had revenue of $233.72 million during the quarter. Universal Insurance had a net margin of 12.14% and a return on equity of 25.77%.

In other Universal Insurance news, Director Sean P. Downes purchased 7,000 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $28.68 per share, for a total transaction of $200,760.00. Following the purchase, the director now owns 1,438,833 shares of the company’s stock, valued at approximately $41,265,730.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sean P. Downes purchased 1,100 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $26.66 per share, with a total value of $29,326.00. Following the purchase, the director now directly owns 1,431,833 shares in the company, valued at approximately $38,172,667.78. The disclosure for this purchase can be found here. Insiders have acquired a total of 18,100 shares of company stock valued at $496,186 in the last 90 days. 11.30% of the stock is currently owned by company insiders.

About Universal Insurance

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 homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.

See Also: What is the Rule of 72?

Want to see what other hedge funds are holding UVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Insurance Holdings, Inc. (NYSE:UVE).

Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.