Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Sold by Rhumbline Advisers

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Rhumbline Advisers lessened its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,486 shares of the insurance provider’s stock after selling 8,237 shares during the quarter. Rhumbline Advisers owned about 0.29% of Universal Insurance worth $2,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in shares of Universal Insurance during the second quarter valued at approximately $29,000. NumerixS Investment Technologies Inc boosted its stake in Universal Insurance by 137.5% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 1,100 shares during the period. Reilly Financial Advisors LLC acquired a new position in Universal Insurance in the 3rd quarter worth approximately $90,000. Assetmark Inc. boosted its stake in Universal Insurance by 1,365.2% in the 2nd quarter. Assetmark Inc. now owns 4,000 shares of the insurance provider’s stock worth $112,000 after purchasing an additional 3,727 shares during the period. Finally, Bank of Montreal Can boosted its stake in Universal Insurance by 135.2% in the 2nd quarter. Bank of Montreal Can now owns 4,476 shares of the insurance provider’s stock worth $125,000 after purchasing an additional 2,573 shares during the period. Institutional investors and hedge funds own 75.40% of the company’s stock.

UVE has been the subject of a number of recent analyst reports. TheStreet lowered shares of Universal Insurance from a “b-” rating to a “c” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lowered shares of Universal Insurance from a “market perform” rating to an “underperform” rating and decreased their price objective for the stock from $30.00 to $27.00 in a research note on Sunday, November 3rd.

In related news, Director Sean P. Downes bought 5,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was bought at an average price of $27.59 per share, with a total value of $151,745.00. Following the purchase, the director now directly owns 1,444,333 shares of the company’s stock, valued at approximately $39,849,147.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen Donaghy bought 5,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $27.41 per share, with a total value of $137,050.00. Following the purchase, the chief executive officer now directly owns 557,146 shares in the company, valued at $15,271,371.86. The disclosure for this purchase can be found here. Insiders have acquired a total of 21,167 shares of company stock valued at $587,255 in the last three months. Company insiders own 11.30% of the company’s stock.

Universal Insurance stock traded down $0.05 during midday trading on Tuesday, reaching $30.35. The stock had a trading volume of 100,913 shares, compared to its average volume of 194,152. The firm’s fifty day simple moving average is $28.85 and its two-hundred day simple moving average is $28.14. Universal Insurance Holdings, Inc. has a twelve month low of $23.57 and a twelve month high of $45.71. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 10.81 and a beta of 0.86.

Universal Insurance (NYSE:UVE) last issued its earnings results on Wednesday, October 30th. The insurance provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.11. The company 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%.

About Universal Insurance

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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Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

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