Los Angeles Capital Management LLC Sells 11,400 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

13 Nov 2024, 04:54 by Amy Steele · The Cerbat Gem

Los Angeles Capital Management LLC cut its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE – Free Report) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 128,870 shares of the insurance provider’s stock after selling 11,400 shares during the period. Los Angeles Capital Management LLC’s holdings in Universal Insurance were worth $2,856,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CWM LLC lifted its position in shares of Universal Insurance by 40.1% during the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after acquiring an additional 723 shares in the last quarter. Quarry LP boosted its stake in Universal Insurance by 424.4% in the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 1,129 shares during the period. Covestor Ltd grew its holdings in Universal Insurance by 240.1% during the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after buying an additional 1,328 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Universal Insurance by 17.4% during the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after buying an additional 1,833 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Universal Insurance by 11.0% in the second quarter. Principal Financial Group Inc. now owns 24,963 shares of the insurance provider’s stock worth $468,000 after buying an additional 2,479 shares in the last quarter. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

Universal Insurance Price Performance

NYSE:UVE opened at $22.39 on Wednesday. Universal Insurance Holdings, Inc. has a 52-week low of $15.63 and a 52-week high of $23.27. The stock has a fifty day moving average of $20.62 and a 200 day moving average of $19.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $633.32 million, a price-to-earnings ratio of 9.10 and a beta of 0.90.

Universal Insurance (NYSE:UVE – Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. The firm had revenue of $387.55 million during the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same quarter last year, the company posted ($0.16) EPS. On average, research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, December 6th. Universal Insurance’s dividend payout ratio (DPR) is currently 26.02%.

Insider Transactions at Universal Insurance

In related news, Director Jon Springer sold 35,173 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now owns 473,899 shares of the company’s stock, valued at $9,729,146.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Universal Insurance news, Director Jon Springer sold 35,173 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the transaction, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now directly owns 1,062,262 shares in the company, valued at $21,468,315.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,173 shares of company stock valued at $1,575,702. Insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday.

View Our Latest Analysis on Universal Insurance

Universal Insurance Company Profile

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