Ameriprise Financial Inc. raised its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 6.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,414 shares of the insurance provider’s stock after purchasing an additional 25,417 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.29% of Universal Insurance worth $10,361,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Universal Insurance by 1.5% during the second quarter. Vanguard Group Inc. now owns 3,730,592 shares of the insurance provider’s stock valued at $94,011,000 after acquiring an additional 55,438 shares during the last quarter. LSV Asset Management grew its holdings in shares of Universal Insurance by 4.3% in the second quarter. LSV Asset Management now owns 1,662,159 shares of the insurance provider’s stock worth $41,886,000 after purchasing an additional 68,231 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Universal Insurance by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,631,586 shares of the insurance provider’s stock worth $41,117,000 after purchasing an additional 12,708 shares during the last quarter. State Street Corp grew its holdings in shares of Universal Insurance by 4.6% in the second quarter. State Street Corp now owns 807,769 shares of the insurance provider’s stock worth $20,353,000 after purchasing an additional 35,363 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Universal Insurance by 13.3% in the second quarter. Teachers Advisors LLC now owns 655,904 shares of the insurance provider’s stock worth $16,529,000 after purchasing an additional 77,208 shares during the last quarter. 77.97% of the stock is currently owned by hedge funds and other institutional investors.
Universal Insurance Holdings, Inc. (UVE) traded down $0.10 during trading hours on Friday, reaching $28.60. 293,560 shares of the company traded hands, compared to its average volume of 267,400. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $983.36, a PE ratio of 12.22 and a beta of 1.88. Universal Insurance Holdings, Inc. has a twelve month low of $15.07 and a twelve month high of $29.45.
Universal Insurance declared that its board has initiated a stock repurchase program on Wednesday, November 8th that authorizes the company to repurchase $20.00 million in shares. This repurchase authorization authorizes the insurance provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Separately, ValuEngine upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Friday, October 6th.
In other Universal Insurance news, Director Michael Pietrangelo sold 9,969 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.27, for a total transaction of $261,885.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.50% of the company’s stock.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).
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