LSV Asset Management decreased its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 3.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,646,678 shares of the insurance provider’s stock after selling 65,982 shares during the quarter. LSV Asset Management owned 4.71% of Universal Insurance worth $79,946,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Universal Insurance in the 2nd quarter worth about $171,000. Trilogy Capital Inc. acquired a new stake in Universal Insurance in the 3rd quarter worth about $276,000. 6 Meridian acquired a new stake in Universal Insurance in the 2nd quarter worth about $208,000. Campbell & CO Investment Adviser LLC bought a new position in Universal Insurance in the 2nd quarter valued at about $226,000. Finally, Sun Life Financial INC bought a new position in Universal Insurance in the 2nd quarter valued at about $237,000. Institutional investors and hedge funds own 74.12% of the company’s stock.
UVE stock opened at $44.05 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.64 and a current ratio of 0.64. Universal Insurance Holdings, Inc. has a 12 month low of $24.65 and a 12 month high of $50.50. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 10.06 and a beta of 1.88.
Universal Insurance (NYSE:UVE) last released its earnings results on Monday, October 29th. The insurance provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Universal Insurance had a net margin of 19.77% and a return on equity of 33.17%. The firm had revenue of $206.16 million for the quarter.
In other Universal Insurance news, insider Jon Springer sold 7,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $44.68, for a total value of $312,760.00. Following the transaction, the insider now directly owns 449,325 shares of the company’s stock, valued at approximately $20,075,841. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $47.66, for a total transaction of $953,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,359,141 shares in the company, valued at $64,776,660.06. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,000 shares of company stock worth $3,725,140. Insiders own 10.60% of the company’s stock.
Several research firms have commented on UVE. Keefe, Bruyette & Woods lowered shares of Universal Insurance from an “outperform” rating to a “market perform” rating and raised their target price for the company from $39.00 to $44.00 in a report on Friday, July 27th. ValuEngine raised shares of Universal Insurance from a “hold” rating to a “buy” rating in a report on Thursday, July 26th.
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Universal Insurance 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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