Los Angeles Capital Management LLC Trims Stake in Universal Insurance Holdings, Inc. (NYSE:UVE)

Los Angeles Capital Management LLC cut its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,353 shares of the insurance provider’s stock after selling 16,517 shares during the period. Los Angeles Capital Management LLC owned approximately 0.40% of Universal Insurance worth $2,366,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Summit Global Investments purchased a new position in shares of Universal Insurance during the third quarter valued at approximately $588,000. CWA Asset Management Group LLC bought a new stake in shares of Universal Insurance during the 3rd quarter worth approximately $6,322,000. Covestor Ltd boosted 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 acquiring an additional 1,328 shares during the period. Versor Investments LP bought a new position in Universal Insurance in the 3rd quarter valued at $292,000. Finally, GSA Capital Partners LLP grew its position in Universal Insurance by 108.6% in the 3rd quarter. GSA Capital Partners LLP now owns 93,851 shares of the insurance provider’s stock valued at $2,080,000 after acquiring an additional 48,864 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Universal Insurance Price Performance

Shares of UVE stock opened at $22.02 on Friday. The company has a market capitalization of $622.83 million, a P/E ratio of 8.95 and a beta of 0.91. The company’s 50-day simple moving average is $20.08 and its two-hundred day simple moving average is $20.70. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $23.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.16. The company had revenue of $384.81 million for the quarter, compared to analysts’ expectations of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. As a group, equities analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 2.91%. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s dividend payout ratio (DPR) is currently 32.16%.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the sale, the chairman now owns 985,320 shares in the company, valued at approximately $20,208,913.20. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jon Springer sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares of the company’s stock, valued at $7,905,993.64. The trade was a 6.12 % decrease in their position. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by corporate insiders.

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.