37,095 Shares in Universal Insurance Holdings, Inc. (NYSE:UVE) Bought by Federated Hermes Inc.

Federated Hermes Inc. bought a new position in Universal Insurance Holdings, Inc. (NYSE:UVEFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 37,095 shares of the insurance provider’s stock, valued at approximately $593,000. Federated Hermes Inc. owned about 0.13% of Universal Insurance at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CWA Asset Management Group LLC purchased a new position in shares of Universal Insurance in the 3rd quarter valued at about $7,935,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Universal Insurance by 0.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock worth $6,081,000 after purchasing an additional 2,175 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Universal Insurance by 250.2% during the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock worth $4,765,000 after purchasing an additional 242,895 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Universal Insurance by 94.8% during the 3rd quarter. GSA Capital Partners LLP now owns 173,801 shares of the insurance provider’s stock worth $2,437,000 after purchasing an additional 84,573 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Universal Insurance by 47.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 101,702 shares of the insurance provider’s stock valued at $1,426,000 after acquiring an additional 32,583 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Insider Activity

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction 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 sale, the chairman now directly owns 1,191,390 shares in the company, valued at $23,267,846.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 17.70% of the company’s stock.

Universal Insurance Trading Down 1.6 %

Shares of Universal Insurance stock opened at $19.73 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.53 and a current ratio of 0.44. The stock has a 50 day moving average of $19.70 and a 200 day moving average of $17.44. Universal Insurance Holdings, Inc. has a fifty-two week low of $11.15 and a fifty-two week high of $22.38. The firm has a market capitalization of $571.58 million, a price-to-earnings ratio of 7.74 and a beta of 0.84.

Universal Insurance (NYSE:UVEGet Free Report) last released its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. The company had revenue of $375.46 million for the quarter, compared to analysts’ expectations of $328.12 million. As a group, research analysts predict that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Thursday, May 9th. Universal Insurance’s payout ratio is currently 25.10%.

Analysts Set New Price Targets

Several brokerages recently weighed in on UVE. TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a research report on Monday, April 1st. Finally, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th.

Get Our Latest Stock Analysis on Universal Insurance

About Universal Insurance

(Free Report)

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.

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

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