Fmr LLC Has $4.25 Million Position in Universal Insurance Holdings, Inc. (UVE)

Fmr LLC lowered its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 35.9% during the second quarter, HoldingsChannel reports. The firm owned 121,153 shares of the insurance provider’s stock after selling 67,997 shares during the period. Fmr LLC’s holdings in Universal Insurance were worth $4,252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its stake in Universal Insurance by 7.2% in the 2nd quarter. BlackRock Inc. now owns 4,470,854 shares of the insurance provider’s stock worth $156,927,000 after purchasing an additional 300,628 shares in the last quarter. LSV Asset Management increased its stake in Universal Insurance by 1.6% in the 2nd quarter. LSV Asset Management now owns 1,712,660 shares of the insurance provider’s stock worth $60,114,000 after purchasing an additional 26,801 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Universal Insurance by 1.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,709,632 shares of the insurance provider’s stock valued at $60,008,000 after acquiring an additional 32,633 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Universal Insurance by 28.5% during the 1st quarter. JPMorgan Chase & Co. now owns 539,562 shares of the insurance provider’s stock valued at $17,213,000 after acquiring an additional 119,747 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Universal Insurance by 6.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 368,490 shares of the insurance provider’s stock valued at $12,934,000 after acquiring an additional 23,650 shares in the last quarter. 73.87% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on UVE shares. Keefe, Bruyette & Woods cut Universal Insurance from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $39.00 to $44.00 in a research note on Friday, July 27th. ValuEngine raised Universal Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th.

In other Universal Insurance news, CEO Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $47.66, for a total transaction of $953,200.00. Following the transaction, the chief executive officer now owns 1,359,141 shares of the company’s stock, valued at approximately $64,776,660.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stephen Donaghy sold 9,191 shares of Universal Insurance stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $43.20, for a total value of $397,051.20. Following the transaction, the chief operating officer now directly owns 458,093 shares in the company, valued at approximately $19,789,617.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 157,705 shares of company stock worth $6,975,049. Company insiders own 10.60% of the company’s stock.

NYSE:UVE opened at $45.12 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.71 and a current ratio of 0.71. Universal Insurance Holdings, Inc. has a fifty-two week low of $22.95 and a fifty-two week high of $50.50. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 13.05 and a beta of 1.83.

Universal Insurance (NYSE:UVE) last released its earnings results on Wednesday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.25. Universal Insurance had a return on equity of 29.16% and a net margin of 16.71%. The company had revenue of $209.79 million for the quarter.

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.

Featured Article: Short Selling Stocks and Day Traders

Want to see what other hedge funds are holding UVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Insurance Holdings, Inc. (NYSE:UVE).

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

Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply