Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in Universal Insurance Holdings, Inc. (NYSE:UVE) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,002 shares of the insurance provider’s stock after selling 19,400 shares during the quarter. LSV Asset Management’s holdings in Universal Insurance were worth $4,698,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC boosted its holdings in Universal Insurance by 26.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 151,215 shares of the insurance provider’s stock valued at $2,416,000 after acquiring an additional 31,635 shares during the period. Islay Capital Management LLC increased its stake in Universal Insurance by 7.2% during the 4th quarter. Islay Capital Management LLC now owns 58,825 shares of the insurance provider’s stock worth $940,000 after buying an additional 3,967 shares during the period. Donald Smith & CO. Inc. boosted its position in Universal Insurance by 31.2% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider’s stock valued at $27,201,000 after buying an additional 404,446 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Universal Insurance by 2.4% in the fourth quarter. Russell Investments Group Ltd. now owns 226,344 shares of the insurance provider’s stock worth $3,617,000 after acquiring an additional 5,374 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Universal Insurance in the fourth quarter valued at $475,000. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UVE has been the topic of a number of analyst reports. StockNews.com raised Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Piper Sandler reissued an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a research report on Monday, April 1st. Finally, TheStreet upgraded shares of Universal Insurance from a “c+” rating to a “b” rating in a research note on Monday, February 26th.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at approximately $23,267,846.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.70% of the stock is currently owned by insiders.

Universal Insurance Stock Up 0.7 %

Shares of NYSE:UVE opened at $20.32 on Thursday. The firm has a 50 day simple moving average of $19.71 and a 200-day simple moving average of $17.65. Universal Insurance Holdings, Inc. has a twelve month low of $11.15 and a twelve month high of $22.38. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $585.22 million, a PE ratio of 7.97 and a beta of 0.84.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. The company had revenue of $375.46 million for the quarter, compared to analyst estimates of $328.12 million. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. On average, equities analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.15%. Universal Insurance’s dividend payout ratio (DPR) is 25.10%.

Universal Insurance 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.