Louisiana State Employees Retirement System reduced its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 9.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,460 shares of the insurance provider’s stock after selling 1,140 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Universal Insurance were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC purchased a new position in shares of Universal Insurance in the second quarter valued at about $11,764,000. Peregrine Capital Management LLC bought a new position in Universal Insurance during the 3rd quarter valued at approximately $4,014,000. Renaissance Technologies LLC bought a new position in Universal Insurance during the 2nd quarter valued at approximately $2,890,000. Assenagon Asset Management S.A. purchased a new stake in Universal Insurance in the 3rd quarter worth approximately $2,187,000. Finally, Morgan Stanley lifted its holdings in Universal Insurance by 79.2% in the 2nd quarter. Morgan Stanley now owns 141,508 shares of the insurance provider’s stock worth $3,948,000 after buying an additional 62,535 shares during the period. Institutional investors own 73.38% of the company’s stock.
Several equities analysts have recently issued reports on the company. ValuEngine cut Universal Insurance from a “buy” rating to a “hold” rating in a research note on Monday, December 16th. Keefe, Bruyette & Woods downgraded Universal Insurance from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $30.00 to $27.00 in a report on Sunday, November 3rd.
Shares of Universal Insurance stock opened at $25.37 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.02. Universal Insurance Holdings, Inc. has a 12-month low of $23.57 and a 12-month high of $40.92. The company has a market cap of $858.48 million, a P/E ratio of 9.65 and a beta of 0.85. The company’s fifty day simple moving average is $27.40 and its two-hundred day simple moving average is $27.84.
Universal Insurance (NYSE:UVE) last posted its earnings results on Wednesday, October 30th. The insurance provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.11. The firm had revenue of $229.64 million during the quarter. Universal Insurance had a net margin of 9.94% and a return on equity of 22.28%.
In other news, Director Sean P. Downes acquired 1,500 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $27.86 per share, for a total transaction of $41,790.00. Following the completion of the acquisition, the director now owns 1,466,053 shares in the company, valued at $40,844,236.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sean P. Downes acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was purchased at an average price of $28.61 per share, with a total value of $28,610.00. Following the acquisition, the director now owns 1,463,553 shares of the company’s stock, valued at approximately $41,872,251.33. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 30,767 shares of company stock valued at $864,627. 11.30% of the stock is owned by insiders.
Universal Insurance Company 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 homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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