Universal Insurance Holdings, Inc. (NYSE:UVE) Holdings Lifted by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 26.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,215 shares of the insurance provider’s stock after buying an additional 31,635 shares during the period. Los Angeles Capital Management LLC’s holdings in Universal Insurance were worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of UVE. Donald Smith & CO. Inc. grew its holdings in shares of Universal Insurance by 31.2% during 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 acquiring an additional 404,446 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in Universal Insurance in the third quarter valued at about $7,935,000. Jacobs Levy Equity Management Inc. increased its position in Universal Insurance by 0.5% in 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. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Universal Insurance during the 4th quarter worth about $6,387,000. Finally, Acadian Asset Management LLC raised its stake 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 in the last quarter. 66.61% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total transaction of $394,400.00. Following the completion of the transaction, the chairman now owns 1,162,262 shares of the company’s stock, valued at approximately $22,919,806.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 17.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on UVE shares. TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th. Piper Sandler restated an “overweight” rating and set a $25.00 price target on shares of Universal Insurance in a research note on Monday, April 1st. Finally, StockNews.com raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research note on Saturday.

Universal Insurance Stock Performance

Shares of NYSE UVE opened at $20.06 on Tuesday. The business’s 50-day simple moving average is $19.72 and its 200-day simple moving average is $17.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.44 and a current ratio of 0.44. Universal Insurance Holdings, Inc. has a 52 week low of $11.15 and a 52 week high of $22.38. The firm has a market cap of $577.73 million, a price-to-earnings ratio of 7.87 and a beta of 0.84.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $328.12 million. As a group, equities research analysts expect that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be issued a $0.16 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.64 annualized dividend and a yield of 3.19%. Universal Insurance’s dividend payout ratio (DPR) is presently 25.10%.

Universal Insurance Company 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.