Los Angeles Capital Management LLC Sells 11,400 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Los Angeles Capital Management LLC trimmed its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 8.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,870 shares of the insurance provider’s stock after selling 11,400 shares during the quarter. Los Angeles Capital Management LLC owned 0.46% of Universal Insurance worth $2,856,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP raised its holdings in Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after buying an additional 1,129 shares during the last quarter. Covestor Ltd raised its holdings in shares of Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 1,328 shares during the last quarter. CWM LLC lifted its position in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after acquiring an additional 723 shares in the last quarter. Occidental Asset Management LLC acquired a new position in Universal Insurance during the 2nd quarter valued at about $196,000. Finally, SG Americas Securities LLC increased its holdings in Universal Insurance by 17.4% during the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock worth $232,000 after purchasing an additional 1,833 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

Universal Insurance Stock Performance

NYSE UVE opened at $22.39 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The company has a fifty day moving average price of $20.62 and a 200-day moving average price of $19.90. Universal Insurance Holdings, Inc. has a 1 year low of $15.63 and a 1 year high of $23.27. The firm has a market cap of $633.32 million, a price-to-earnings ratio of 9.10 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) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. During the same quarter last year, the business posted ($0.16) EPS. As a group, equities research analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.52 annualized dividend and a yield of 2.32%. Universal Insurance’s dividend payout ratio is currently 26.02%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a report on Sunday.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the sale, the chairman now directly owns 1,082,262 shares in the company, valued at $24,318,427.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the sale, the director now owns 473,899 shares of the company’s stock, valued at approximately $9,729,146.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at approximately $24,318,427.14. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,173 shares of company stock worth $1,575,702 in the last quarter. 17.50% of the stock is currently owned by company insiders.

About Universal Insurance

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.