Schwab Charles Investment Management Inc. increased its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 46.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 318,026 shares of the insurance provider’s stock after acquiring an additional 100,257 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.92% of Universal Insurance worth $8,699,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in UVE. Quantbot Technologies LP bought a new stake in shares of Universal Insurance in the 3rd quarter worth about $100,000. Municipal Employees Retirement System of Michigan increased its stake in Universal Insurance by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,240 shares of the insurance provider’s stock valued at $282,000 after buying an additional 4,530 shares during the period. Nisa Investment Advisors LLC increased its stake in Universal Insurance by 94.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 10,320 shares of the insurance provider’s stock valued at $282,000 after buying an additional 5,000 shares during the period. Hartford Investment Management Co. grew its position in Universal Insurance by 24.3% in 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. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Universal Insurance during the 3rd quarter worth $331,000. Hedge funds and other institutional investors own 74.34% of the company’s stock.
A number of analysts have weighed in on UVE shares. ValuEngine raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Keefe, Bruyette & Woods set a $32.00 target price on shares of Universal Insurance and gave the company a “buy” rating in a research note on Monday, January 15th.
In other Universal Insurance news, Director Scott P. Callahan sold 2,600 shares of Universal Insurance stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $30.53, for a total transaction of $79,378.00. Following the completion of the transaction, the director now directly owns 8,536 shares of the company’s stock, valued at $260,604.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.
Universal Insurance Holdings, Inc. (NYSE UVE) traded down $0.45 during midday trading on Wednesday, hitting $32.30. 223,145 shares of the stock were exchanged, compared to its average volume of 287,495. The firm has a market capitalization of $1,141.77, a P/E ratio of 10.87 and a beta of 1.85. Universal Insurance Holdings, Inc. has a 12 month low of $15.07 and a 12 month high of $33.20. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.03.
The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Wednesday, February 28th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.56 dividend on an annualized basis and a yield of 1.73%. Universal Insurance’s payout ratio is 18.73%.
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About Universal Insurance
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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