Mountain Lake Investment Management LLC grew its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 16.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,000 shares of the insurance provider’s stock after acquiring an additional 25,000 shares during the period. Universal Insurance accounts for 1.4% of Mountain Lake Investment Management LLC’s portfolio, making the stock its 21st largest holding. Mountain Lake Investment Management LLC’s holdings in Universal Insurance were worth $2,581,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in Universal Insurance in the first quarter worth approximately $27,000. McIlrath & Eck LLC bought a new position in Universal Insurance in the first quarter worth approximately $29,000. Schroder Investment Management Group bought a new position in Universal Insurance in the fourth quarter worth approximately $81,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Universal Insurance during the 1st quarter valued at $159,000. Finally, Guggenheim Capital LLC bought a new stake in shares of Universal Insurance during the 4th quarter valued at $168,000. Institutional investors and hedge funds own 65.68% of the company’s stock.
In related news, Director Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $14.03, for a total transaction of $280,600.00. Following the completion of the transaction, the director now directly owns 1,498,631 shares of the company’s stock, valued at $21,025,792.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 17.00% of the company’s stock.
Shares of UVE stock traded down $0.28 on Thursday, hitting $13.17. 1,077 shares of the stock traded hands, compared to its average volume of 172,338. Universal Insurance Holdings, Inc. has a 52 week low of $10.84 and a 52 week high of $20.85. The business has a 50 day moving average price of $13.91. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.41 and a quick ratio of 0.41.
Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Wednesday, April 28th. The insurance provider reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.15. The firm had revenue of $262.76 million for the quarter, compared to the consensus estimate of $269.49 million. Universal Insurance had a net margin of 2.31% and a negative return on equity of 5.94%. Equities research analysts expect that Universal Insurance Holdings, Inc. will post 2.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 9th. Investors of record on Monday, August 2nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, July 30th. This represents a $0.64 annualized dividend and a yield of 4.86%. Universal Insurance’s payout ratio is -71.11%.
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 insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; allied lines, coverage for other structures, and personal property; and commercial residential multi-peril, as well as liability and personal articles coverages.
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