Man Group plc lessened its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 50.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,642 shares of the insurance provider’s stock after selling 42,705 shares during the quarter. Man Group plc owned approximately 0.12% of Universal Insurance worth $1,161,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in Universal Insurance in the 2nd quarter valued at about $2,890,000. BlackRock Inc. increased its stake in Universal Insurance by 1.2% during the second quarter. BlackRock Inc. now owns 4,657,060 shares of the insurance provider’s stock worth $129,932,000 after purchasing an additional 53,753 shares during the period. Nordea Investment Management AB increased its stake in Universal Insurance by 34.9% during the first quarter. Nordea Investment Management AB now owns 140,213 shares of the insurance provider’s stock worth $4,347,000 after purchasing an additional 36,286 shares during the period. Bogle Investment Management L P DE purchased a new stake in Universal Insurance during the second quarter worth about $871,000. Finally, Jennison Associates LLC purchased a new stake in Universal Insurance during the second quarter worth about $756,000. 74.17% of the stock is currently owned by institutional investors.
Shares of NYSE:UVE opened at $29.26 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $987.57 million, a PE ratio of 8.98 and a beta of 0.95. The firm’s 50-day moving average is $28.81 and its two-hundred day moving average is $28.20. Universal Insurance Holdings, Inc. has a 1 year low of $23.57 and a 1 year high of $45.71.
Universal Insurance (NYSE:UVE) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.05 earnings per share for the quarter. Universal Insurance had a net margin of 12.14% and a return on equity of 25.77%. The firm had revenue of $233.72 million for the quarter.
Separately, TheStreet lowered shares of Universal Insurance from a “b-” rating to a “c” rating in a research note on Thursday, August 15th.
In other news, Director Sean P. Downes bought 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $28.68 per share, for a total transaction of $200,760.00. Following the completion of the purchase, the director now owns 1,438,833 shares of the company’s stock, valued at $41,265,730.44. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen Donaghy purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $26.61 per share, with a total value of $266,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 511,983 shares of the company’s stock, valued at $13,623,867.63. The disclosure for this purchase can be found here. Insiders have purchased 18,100 shares of company stock worth $496,186 over the last 90 days. Insiders own 11.30% of the company’s stock.
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 develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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