Matarin Capital Management LLC purchased a new stake in Universal Insurance Holdings Inc (NYSE:UVE) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 264,517 shares of the insurance provider’s stock, valued at approximately $8,438,000. Matarin Capital Management LLC owned approximately 0.75% of Universal Insurance as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in UVE. Great Lakes Advisors LLC acquired a new position in shares of Universal Insurance in the first quarter valued at about $3,740,000. Millennium Management LLC grew its stake in shares of Universal Insurance by 29.0% in the fourth quarter. Millennium Management LLC now owns 450,303 shares of the insurance provider’s stock valued at $12,316,000 after acquiring an additional 101,278 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Universal Insurance by 46.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 318,026 shares of the insurance provider’s stock valued at $8,699,000 after acquiring an additional 100,257 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Universal Insurance in the fourth quarter valued at about $2,405,000. Finally, BlackRock Inc. grew its stake in shares of Universal Insurance by 1.9% in the first quarter. BlackRock Inc. now owns 4,170,226 shares of the insurance provider’s stock valued at $133,031,000 after acquiring an additional 79,300 shares in the last quarter. Institutional investors and hedge funds own 71.25% of the company’s stock.
UVE has been the topic of several research reports. ValuEngine downgraded shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Keefe, Bruyette & Woods set a $35.00 price objective on shares of Universal Insurance and gave the stock a “buy” rating in a research note on Tuesday, April 10th.
Shares of Universal Insurance opened at $35.50 on Thursday, MarketBeat.com reports. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.88 and a beta of 1.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.56 and a current ratio of 0.56. Universal Insurance Holdings Inc has a 12-month low of $15.07 and a 12-month high of $35.80.
Universal Insurance (NYSE:UVE) last posted its earnings results on Tuesday, February 20th. The insurance provider reported $1.03 EPS for the quarter. The firm had revenue of $201.31 million during the quarter. Universal Insurance had a net margin of 15.07% and a return on equity of 26.52%.
The business also recently announced a quarterly dividend, which was paid on Friday, May 4th. Stockholders of record on Friday, April 27th were issued a $0.14 dividend. The ex-dividend date was Thursday, April 26th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.58%.
In related news, CFO Frank Wilcox sold 14,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 3rd. The shares were sold at an average price of $32.36, for a total value of $453,040.00. Following the completion of the transaction, the chief financial officer now owns 132,324 shares in the company, valued at approximately $4,282,004.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jon Springer sold 18,926 shares of the firm’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $35.34, for a total transaction of $668,844.84. Following the completion of the transaction, the insider now owns 496,725 shares of the company’s stock, valued at approximately $17,554,261.50. The disclosure for this sale can be found here. Insiders sold 120,102 shares of company stock valued at $3,981,271 in the last three months. Company insiders own 10.60% of the company’s stock.
Universal Insurance Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.
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