Universal Insurance Holdings, Inc. (UVE) Shares Bought by WINTON GROUP Ltd

WINTON GROUP Ltd grew its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 2,744.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 293,753 shares of the insurance provider’s stock after acquiring an additional 283,426 shares during the period. WINTON GROUP Ltd’s holdings in Universal Insurance were worth $14,262,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sun Life Financial INC purchased a new position in shares of Universal Insurance in the 2nd quarter valued at $237,000. Russell Investments Group Ltd. raised its stake in shares of Universal Insurance by 20.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 66,110 shares of the insurance provider’s stock valued at $2,320,000 after acquiring an additional 11,392 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Universal Insurance by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,709,632 shares of the insurance provider’s stock valued at $60,008,000 after acquiring an additional 32,633 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Universal Insurance by 57.7% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 48,047 shares of the insurance provider’s stock valued at $1,686,000 after acquiring an additional 17,577 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Universal Insurance in the 2nd quarter valued at $316,000. 73.94% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Friday, August 24th. The shares were sold at an average price of $45.14, for a total transaction of $902,800.00. Following the sale, the chief executive officer now owns 1,379,141 shares of the company’s stock, valued at approximately $62,254,424.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Springer sold 7,000 shares of Universal Insurance stock in a transaction on Friday, August 10th. The stock was sold at an average price of $45.15, for a total transaction of $316,050.00. Following the sale, the insider now directly owns 455,725 shares in the company, valued at approximately $20,575,983.75. The disclosure for this sale can be found here. Insiders have sold a total of 81,000 shares of company stock worth $3,725,490 in the last ninety days. 10.60% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Universal Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th. Keefe, Bruyette & Woods downgraded shares of Universal Insurance from an “outperform” rating to a “market perform” rating and raised their target price for the company from $39.00 to $44.00 in a research note on Friday, July 27th.

Shares of UVE stock opened at $44.60 on Thursday. Universal Insurance Holdings, Inc. has a 52 week low of $23.05 and a 52 week high of $50.50. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.54 billion, a PE ratio of 9.85 and a beta of 1.88.

Universal Insurance (NYSE:UVE) last issued its earnings results on Monday, October 29th. The insurance provider reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.02. Universal Insurance had a net margin of 19.77% and a return on equity of 33.17%. The business had revenue of $206.16 million for the quarter.

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About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.

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Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

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