Y Intercept Hong Kong Ltd Cuts Stake in Universal Insurance Holdings Inc $UVE

Y Intercept Hong Kong Ltd cut its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 47.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,897 shares of the insurance provider’s stock after selling 19,058 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.07% of Universal Insurance worth $714,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of UVE. Able Wealth Management LLC purchased a new stake in Universal Insurance during the 1st quarter valued at about $201,000. Root Financial Partners LLC raised its holdings in Universal Insurance by 170,750.0% in the first quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider’s stock worth $117,000 after buying an additional 3,415 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Universal Insurance by 7.0% in the first quarter. Janney Montgomery Scott LLC now owns 33,620 shares of the insurance provider’s stock worth $1,148,000 after buying an additional 2,189 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Universal Insurance in the fourth quarter worth approximately $495,000. Finally, Empowered Funds LLC lifted its stake in shares of Universal Insurance by 6.5% in the fourth quarter. Empowered Funds LLC now owns 133,255 shares of the insurance provider’s stock worth $4,504,000 after buying an additional 8,176 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UVE. Weiss Ratings reissued a “buy (b)” rating on shares of Universal Insurance in a research report on Monday, April 20th. Wall Street Zen cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research downgraded Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Universal Insurance has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $42.21 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 6.25 and a beta of 0.72. The business has a 50-day simple moving average of $39.24 and a two-hundred day simple moving average of $35.24. Universal Insurance Holdings Inc has a fifty-two week low of $21.96 and a fifty-two week high of $43.96.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.61. Universal Insurance had a net margin of 12.22% and a return on equity of 37.51%. The firm had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. On average, analysts expect that Universal Insurance Holdings Inc will post 4.63 earnings per share for the current year.

Universal Insurance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 31st will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 31st. Universal Insurance’s payout ratio is 9.48%.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $38.22, for a total transaction of $764,400.00. Following the completion of the sale, the chairman directly owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 60,000 shares of company stock valued at $2,332,800. Insiders own 15.00% of the company’s stock.

Universal Insurance Company Profile

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.