Sierra Summit Advisors LLC Invests $1.01 Million in Universal Insurance Holdings Inc $UVE

Sierra Summit Advisors LLC purchased a new position in Universal Insurance Holdings Inc (NYSE:UVE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,774 shares of the insurance provider’s stock, valued at approximately $1,006,000. Sierra Summit Advisors LLC owned about 0.11% of Universal Insurance at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Universal Insurance by 492.4% in the fourth quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after acquiring an additional 2,324 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Universal Insurance in the fourth quarter worth $204,000. Centric Wealth Management bought a new stake in shares of Universal Insurance in the fourth quarter worth $257,000. Torren Management LLC bought a new stake in shares of Universal Insurance in the fourth quarter worth $54,000. Finally, Vanguard Group Inc. grew its holdings in shares of Universal Insurance by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 2,007,725 shares of the insurance provider’s stock worth $67,861,000 after acquiring an additional 54,004 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Stock Performance

NYSE UVE opened at $39.90 on Thursday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 5.91 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $36.03 and a 200-day moving average price of $33.67. Universal Insurance Holdings Inc has a twelve month low of $21.96 and a twelve month high of $41.96.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.61. The company had revenue of $398.16 million for the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. As a group, equities research analysts predict that Universal Insurance Holdings Inc will post 4.75 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, May 8th. Universal Insurance’s payout ratio is currently 9.48%.

Wall Street Analyst Weigh In

Several brokerages recently commented on UVE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, Universal Insurance presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Insider Transactions at Universal Insurance

In related news, CAO Kimberly D. Campos sold 879 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of $33.84, for a total value of $29,745.36. Following the sale, the chief accounting officer directly owned 7,422 shares in the company, valued at approximately $251,160.48. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $38.73, for a total value of $774,600.00. Following the completion of the sale, the chairman owned 1,168,255 shares in the company, valued at $45,246,516.15. This represents a 1.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,879 shares of company stock worth $2,290,145 over the last quarter. 15.00% of the stock is owned by company insiders.

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.