6 Meridian grew its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,046 shares of the insurance provider’s stock after buying an additional 1,985 shares during the period. 6 Meridian owned 0.09% of Universal Insurance worth $841,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of UVE. Point72 Hong Kong Ltd purchased a new stake in shares of Universal Insurance in the second quarter valued at about $29,000. NumerixS Investment Technologies Inc grew its holdings in shares of Universal Insurance by 137.5% in the second quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 1,100 shares during the period. Reilly Financial Advisors LLC purchased a new stake in shares of Universal Insurance in the third quarter valued at about $90,000. Assetmark Inc. grew its holdings in shares of Universal Insurance by 1,365.2% in the second quarter. Assetmark Inc. now owns 4,000 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 3,727 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Universal Insurance by 135.2% in the second quarter. Bank of Montreal Can now owns 4,476 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 2,573 shares during the period. Institutional investors and hedge funds own 73.38% of the company’s stock.
Shares of UVE opened at $25.65 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.02. Universal Insurance Holdings, Inc. has a 12-month low of $23.57 and a 12-month high of $40.92. The firm has a 50-day moving average price of $28.16 and a 200 day moving average price of $27.99. The firm has a market capitalization of $856.15 million, a P/E ratio of 9.20 and a beta of 0.85.
Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.11. The firm had revenue of $229.64 million during the quarter. Universal Insurance had a net margin of 9.94% and a return on equity of 22.28%.
The business also recently announced a None dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, December 12th.
UVE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered shares of Universal Insurance from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $30.00 to $27.00 in a report on Sunday, November 3rd. ValuEngine lowered shares of Universal Insurance from a “buy” rating to a “hold” rating in a report on Monday, December 16th.
In related news, CEO Stephen Donaghy bought 5,000 shares of the stock in a transaction on Monday, November 4th. The stock was bought at an average price of $27.41 per share, with a total value of $137,050.00. Following the completion of the purchase, the chief executive officer now directly owns 557,146 shares in the company, valued at approximately $15,271,371.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sean P. Downes bought 6,467 shares of the stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $27.06 per share, with a total value of $174,997.02. Following the purchase, the director now owns 1,450,800 shares of the company’s stock, valued at $39,258,648. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 30,767 shares of company stock valued at $864,627. 11.30% of the stock is currently owned by insiders.
Universal Insurance 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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