6 Meridian Purchases New Shares in Universal Insurance Holdings, Inc. (NYSE:UVE)

6 Meridian purchased a new stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 28,061 shares of the insurance provider’s stock, valued at approximately $842,000. 6 Meridian owned 0.08% of Universal Insurance as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Universal Insurance by 1.2% during the second quarter. BlackRock Inc. now owns 4,657,060 shares of the insurance provider’s stock valued at $129,932,000 after buying an additional 53,753 shares during the period. Northern Trust Corp grew its position in Universal Insurance by 1.0% during the second quarter. Northern Trust Corp now owns 454,148 shares of the insurance provider’s stock valued at $12,672,000 after buying an additional 4,407 shares during the period. Nuveen Asset Management LLC acquired a new stake in Universal Insurance during the second quarter valued at $11,764,000. Charles Schwab Investment Management Inc. grew its position in Universal Insurance by 2.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 268,287 shares of the insurance provider’s stock valued at $7,486,000 after buying an additional 6,862 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Universal Insurance during the second quarter valued at $5,386,000. Institutional investors own 73.48% of the company’s stock.

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

In related news, Director Sean P. Downes bought 1,100 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $26.66 per share, for a total transaction of $29,326.00. Following the completion of the transaction, the director now directly owns 1,431,833 shares in the company, valued at $38,172,667.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sean P. Downes bought 7,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $28.68 per share, for a total transaction of $200,760.00. Following the transaction, the director now owns 1,438,833 shares of the company’s stock, valued at $41,265,730.44. The disclosure for this purchase can be found here. In the last quarter, insiders bought 18,100 shares of company stock worth $496,186. Company insiders own 11.30% of the company’s stock.

Shares of NYSE UVE opened at $28.92 on Thursday. The company’s 50-day simple moving average is $28.53 and its 200-day simple moving average is $28.25. Universal Insurance Holdings, Inc. has a 52-week low of $23.57 and a 52-week high of $48.46. The firm has a market cap of $987.91 million, a price-to-earnings ratio of 8.98 and a beta of 0.95. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.02.

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

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.

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

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