Nordea Investment Management AB trimmed its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE – Get Rating) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,003 shares of the insurance provider’s stock after selling 7,645 shares during the period. Nordea Investment Management AB owned 0.60% of Universal Insurance worth $1,912,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in UVE. Advisor Group Holdings Inc. lifted its position in shares of Universal Insurance by 36.2% in the first quarter. Advisor Group Holdings Inc. now owns 30,515 shares of the insurance provider’s stock valued at $411,000 after buying an additional 8,118 shares during the last quarter. Swiss National Bank lifted its position in shares of Universal Insurance by 7.3% in the first quarter. Swiss National Bank now owns 66,400 shares of the insurance provider’s stock valued at $896,000 after buying an additional 4,500 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Universal Insurance by 2.9% in the first quarter. Bank of New York Mellon Corp now owns 412,217 shares of the insurance provider’s stock valued at $5,561,000 after buying an additional 11,696 shares during the last quarter. Citigroup Inc. lifted its position in shares of Universal Insurance by 13.9% in the first quarter. Citigroup Inc. now owns 25,660 shares of the insurance provider’s stock valued at $346,000 after buying an additional 3,126 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Universal Insurance by 55.1% in the first quarter. MetLife Investment Management LLC now owns 14,719 shares of the insurance provider’s stock valued at $199,000 after buying an additional 5,231 shares during the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Universal Insurance news, Director Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $16.02, for a total transaction of $320,400.00. Following the transaction, the director now owns 1,345,591 shares in the company, valued at approximately $21,556,367.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Sean P. Downes sold 10,000 shares of Universal Insurance stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $18.83, for a total value of $188,300.00. Following the transaction, the director now owns 1,348,209 shares in the company, valued at approximately $25,386,775.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $16.02, for a total value of $320,400.00. Following the completion of the transaction, the director now owns 1,345,591 shares in the company, valued at approximately $21,556,367.82. The disclosure for this sale can be found here. Insiders have sold a total of 31,151 shares of company stock worth $529,476 in the last 90 days. Company insiders own 16.10% of the company’s stock.
Universal Insurance Price Performance
Universal Insurance (NYSE:UVE – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $1.00. Universal Insurance had a negative return on equity of 2.69% and a negative net margin of 1.25%. The firm had revenue of $330.36 million for the quarter, compared to analyst estimates of $319.59 million. As a group, research analysts expect that Universal Insurance Holdings, Inc. will post 2 EPS for the current fiscal year.
Universal Insurance Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $0.64 dividend on an annualized basis and a yield of 4.11%. Universal Insurance’s dividend payout ratio (DPR) is presently -125.49%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Piper Sandler raised their price objective on Universal Insurance from $20.00 to $23.00 in a research report on Monday, May 1st. TheStreet upgraded Universal Insurance from a “d+” rating to a “c-” rating in a research note on Wednesday, January 25th. Finally, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 6th.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc engages in offering property and casualty insurance and value-added insurance services. It develops, markets and underwrites insurance products for consumers in the personal residential homeowner’s lines of business and perform substantially all other insurance-related services for primary insurance entities, including risk management, claims management, and distribution.
Read More
- Get a free copy of the StockNews.com research report on Universal Insurance (UVE)
- An Updraft Is Brewing For DraftKings
- PepsiCo Hits “Sweet Spot” For APAC Growth, Macros Agree
- High-Risk Mullen Automotive Continues To Build Momentum
- 3 Recession-Proof Stocks With Nice Dividends
- Oracle Stock Climbs For Third Month, Still In Buy Range
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.
