Universal Insurance Holdings, Inc. (NYSE:UVE) Position Raised by AMP Capital Investors Ltd

AMP Capital Investors Ltd raised its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 9.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,400 shares of the insurance provider’s stock after purchasing an additional 3,900 shares during the period. AMP Capital Investors Ltd owned 0.13% of Universal Insurance worth $999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UVE. Allianz Asset Management GmbH lifted its position in shares of Universal Insurance by 1.1% during the third quarter. Allianz Asset Management GmbH now owns 904,388 shares of the insurance provider’s stock worth $20,801,000 after acquiring an additional 9,771 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Universal Insurance by 241.6% during the third quarter. Stifel Financial Corp now owns 82,944 shares of the insurance provider’s stock worth $1,919,000 after acquiring an additional 58,660 shares in the last quarter. Hartford Investment Management Co. lifted its position in shares of Universal Insurance by 24.3% during the third quarter. Hartford Investment Management Co. now owns 14,330 shares of the insurance provider’s stock worth $330,000 after acquiring an additional 2,800 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Universal Insurance by 3.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 217,769 shares of the insurance provider’s stock worth $5,009,000 after acquiring an additional 7,390 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Universal Insurance by 25.1% during the third quarter. JPMorgan Chase & Co. now owns 377,977 shares of the insurance provider’s stock worth $8,732,000 after acquiring an additional 75,878 shares in the last quarter. 77.97% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Holdings, Inc. (NYSE:UVE) traded down $0.10 during trading hours on Friday, hitting $28.60. The company’s stock had a trading volume of 293,560 shares, 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. Universal Insurance Holdings, Inc. has a 12-month low of $15.07 and a 12-month high of $29.45. The stock has a market capitalization of $983.36, a P/E ratio of 12.22 and a beta of 1.88.

Universal Insurance announced that its Board of Directors has initiated a share buyback program on Wednesday, November 8th that allows the company to repurchase $20.00 million in outstanding shares. This repurchase authorization allows the insurance provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

In related news, Director Michael Pietrangelo sold 9,969 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.27, for a total value of $261,885.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 10.50% of the company’s stock.

Separately, ValuEngine upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Thursday, November 9th.

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Universal Insurance 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).

Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

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