GSA Capital Partners LLP Makes New $1.41 Million Investment in Universal Insurance Holdings Inc $UVE

GSA Capital Partners LLP bought a new position in shares of Universal Insurance Holdings Inc (NYSE:UVE) during the 2nd quarter, Holdings Channel reports. The firm bought 34,154 shares of the insurance provider’s stock, valued at approximately $1,413,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UVE. Sierra Summit Advisors LLC grew its stake in shares of Universal Insurance by 0.9% during the first quarter. Sierra Summit Advisors LLC now owns 30,056 shares of the insurance provider’s stock valued at $1,027,000 after purchasing an additional 282 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Universal Insurance by 1.5% in the 1st quarter. Public Employees Retirement System of Ohio now owns 23,509 shares of the insurance provider’s stock worth $803,000 after purchasing an additional 348 shares during the last quarter. Los Angeles Capital Management LLC lifted its holdings in Universal Insurance by 1.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock worth $965,000 after buying an additional 405 shares in the last quarter. Susquehanna Fundamental Investments LLC lifted its holdings in Universal Insurance by 5.2% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock worth $327,000 after buying an additional 474 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Universal Insurance by 11.3% during the 2nd quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after buying an additional 534 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zacks Research cut Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research report on Friday, July 17th. 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 lifted their price target on shares of Universal Insurance from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.00.

Universal Insurance Trading Up 0.1%

NYSE:UVE opened at $43.27 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50-day simple moving average is $40.95 and its 200-day simple moving average is $37.10. Universal Insurance Holdings Inc has a fifty-two week low of $23.32 and a fifty-two week high of $45.15. The stock has a market capitalization of $1.20 billion, a PE ratio of 5.71 and a beta of 0.72.

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

Universal Insurance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance’s dividend payout ratio is currently 8.44%.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $44.27, for a total transaction of $885,400.00. Following the sale, the chairman directly owned 1,104,645 shares in the company, valued at $48,902,634.15. This trade represents a 1.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 15.00% of the stock is currently owned by insiders.

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.