Principal Financial Group Inc. Sells 20,526 Shares of Universal Insurance Holdings Inc $UVE

Principal Financial Group Inc. trimmed its position in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 35.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,143 shares of the insurance provider’s stock after selling 20,526 shares during the period. Principal Financial Group Inc. owned 0.14% of Universal Insurance worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Universal Insurance by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock valued at $331,000 after acquiring an additional 630 shares during the last quarter. Millennium Management LLC increased its stake in shares of Universal Insurance by 171.5% during the 1st quarter. Millennium Management LLC now owns 343,786 shares of the insurance provider’s stock worth $8,148,000 after purchasing an additional 217,184 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Universal Insurance by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,199 shares of the insurance provider’s stock valued at $19,083,000 after purchasing an additional 69,289 shares during the period. Jane Street Group LLC raised its holdings in shares of Universal Insurance by 73.1% in the 1st quarter. Jane Street Group LLC now owns 81,829 shares of the insurance provider’s stock valued at $1,939,000 after purchasing an additional 34,556 shares during the period. Finally, Strs Ohio acquired a new stake in Universal Insurance in the 1st quarter valued at about $180,000. 66.61% of the stock is owned by institutional investors.

Universal Insurance Price Performance

Shares of UVE opened at $43.95 on Friday. The company’s 50-day moving average is $39.57 and its 200-day moving average is $36.02. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.51. The firm has a market capitalization of $1.23 billion, a PE ratio of 5.80 and a beta of 0.72. Universal Insurance Holdings Inc has a fifty-two week low of $22.87 and a fifty-two week high of $45.15.

Universal Insurance (NYSE:UVE) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, topping the consensus estimate of $1.57 by $0.27. The business had revenue of $419.38 million during the quarter, compared to the consensus estimate of $614.62 million. Universal Insurance had a net margin of 13.49% and a return on equity of 37.67%. Equities analysts forecast that Universal Insurance Holdings Inc will post 4.85 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 31st will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance’s dividend payout ratio is presently 8.44%.

Insider Activity at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $38.22, for a total transaction of $764,400.00. Following the transaction, the chairman owned 1,148,255 shares in the company, valued at approximately $43,886,306.10. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.00% of the company’s stock.

Analyst Upgrades and Downgrades

UVE has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on Universal Insurance from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Monday. Zacks Research lowered Universal Insurance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” 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.