CWA Asset Management Group LLC Makes New $6.32 Million Investment in Universal Insurance Holdings, Inc. (NYSE:UVE)

CWA Asset Management Group LLC acquired a new position in Universal Insurance Holdings, Inc. (NYSE:UVE) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 285,277 shares of the insurance provider’s stock, valued at approximately $6,322,000. CWA Asset Management Group LLC owned about 1.00% of Universal Insurance at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after buying an additional 276,700 shares during the period. American Century Companies Inc. raised its stake in shares of Universal Insurance by 44.5% in the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after purchasing an additional 144,647 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Universal Insurance by 64.6% during the 3rd quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock valued at $4,468,000 after acquiring an additional 79,138 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of Universal Insurance by 135.1% during the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock valued at $1,427,000 after acquiring an additional 43,718 shares during the period. Finally, Legato Capital Management LLC bought a new stake in shares of Universal Insurance during the second quarter worth $789,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now directly owns 1,062,262 shares in the company, valued at $21,468,315.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now directly owns 1,062,262 shares of the company’s stock, valued at approximately $21,468,315.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Springer sold 35,173 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the completion of the transaction, the director now directly owns 473,899 shares in the company, valued at $9,729,146.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,173 shares of company stock worth $1,575,702 over the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 2nd.

Universal Insurance Price Performance

Shares of UVE opened at $21.69 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. Universal Insurance Holdings, Inc. has a 52-week low of $15.63 and a 52-week high of $23.27. The stock has a 50 day simple moving average of $20.57 and a 200 day simple moving average of $19.86. The firm has a market capitalization of $613.52 million, a PE ratio of 8.82 and a beta of 0.90.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.30. The company had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period in the prior year, the firm earned ($0.16) earnings per share. Sell-side analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, December 6th. Universal Insurance’s payout ratio is 26.02%.

Universal Insurance Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.