State of Tennessee Treasury Department decreased its position in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,720 shares of the insurance provider’s stock after selling 2,800 shares during the period. State of Tennessee Treasury Department owned 0.07% of Universal Insurance worth $703,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its holdings in Universal Insurance by 74.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 19,414 shares of the insurance provider’s stock valued at $531,000 after buying an additional 8,314 shares in the last quarter. BlackRock Inc. raised its holdings in Universal Insurance by 1.6% during the fourth quarter. BlackRock Inc. now owns 4,090,926 shares of the insurance provider’s stock valued at $111,887,000 after buying an additional 62,649 shares in the last quarter. Rhumbline Advisers raised its holdings in Universal Insurance by 11.1% during the fourth quarter. Rhumbline Advisers now owns 86,001 shares of the insurance provider’s stock valued at $2,352,000 after buying an additional 8,591 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Universal Insurance by 219.7% in the fourth quarter. Arizona State Retirement System now owns 53,835 shares of the insurance provider’s stock worth $1,472,000 after purchasing an additional 36,995 shares during the period. Finally, Pinebridge Investments L.P. increased its stake in shares of Universal Insurance by 398.9% in the fourth quarter. Pinebridge Investments L.P. now owns 20,067 shares of the insurance provider’s stock worth $549,000 after purchasing an additional 16,045 shares during the period. 74.32% of the stock is owned by hedge funds and other institutional investors.
UVE stock traded down $0.45 during trading on Friday, reaching $31.05. 212,262 shares of the stock were exchanged, compared to its average volume of 184,599. Universal Insurance Holdings Inc has a twelve month low of $15.07 and a twelve month high of $33.20. The company has a market cap of $1,098.19, a PE ratio of 10.53 and a beta of 1.75. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.03.
Universal Insurance (NYSE:UVE) last released its earnings results on Tuesday, February 20th. The insurance provider reported $1.03 earnings per share for the quarter. Universal Insurance had a return on equity of 25.45% and a net margin of 14.22%. The business had revenue of $201.31 million for the quarter.
The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Wednesday, February 28th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, February 27th.
A number of research firms have recently commented on UVE. ValuEngine lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods set a $32.00 price objective on Universal Insurance and gave the stock a “buy” rating in a research note on Monday, January 15th.
In related news, Director Scott P. Callahan sold 2,600 shares of Universal Insurance stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $30.53, for a total transaction of $79,378.00. Following the sale, the director now directly owns 8,536 shares of the company’s stock, valued at $260,604.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 10.50% of the stock is owned by company insiders.
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Universal Insurance Company Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.
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