17,908 Shares in Universal Insurance Holdings Inc $UVE Purchased by Denali Advisors LLC

Denali Advisors LLC purchased a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,908 shares of the insurance provider’s stock, valued at approximately $741,000. Denali Advisors LLC owned 0.06% of Universal Insurance at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Torren Management LLC purchased a new stake in Universal Insurance in the 4th quarter worth approximately $54,000. Tower Research Capital LLC TRC increased its stake in shares of Universal Insurance by 390.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares during the period. Parallel Advisors LLC raised its holdings in shares of Universal Insurance by 4,847.3% during the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock valued at $93,000 after acquiring an additional 2,666 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Universal Insurance by 492.4% during the fourth quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock valued at $95,000 after acquiring an additional 2,324 shares in the last quarter. Finally, Archer Investment Corp purchased a new stake in Universal Insurance in the first quarter worth $95,000. Institutional investors own 66.61% of the company’s stock.

Universal Insurance Stock Up 0.2%

NYSE:UVE opened at $42.30 on Friday. The firm’s 50-day moving average price is $41.35 and its 200-day moving average price is $37.45. The company has a market capitalization of $1.18 billion, a PE ratio of 5.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.57. Universal Insurance Holdings Inc has a 1-year low of $24.03 and a 1-year high of $45.15.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.27. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. The company had revenue of $419.38 million during the quarter, compared to analysts’ expectations of $614.62 million. On average, equities analysts predict that Universal Insurance Holdings Inc will post 4.85 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, July 31st. Universal Insurance’s dividend payout ratio (DPR) is presently 8.44%.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total value of $885,400.00. Following the sale, the chairman directly owned 1,104,645 shares of the company’s stock, valued at $48,902,634.15. The trade was a 1.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UVE. Zacks Research downgraded shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of Universal Insurance from a “buy (b)” rating to a “buy (a-)” rating in a research report on Monday. Wall Street Zen lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 9th. Finally, Piper Sandler boosted their price target on shares of Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.00.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.