Campbell & CO Investment Adviser LLC cut its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 32.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,346 shares of the insurance provider’s stock after selling 2,100 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Universal Insurance were worth $211,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in UVE. Hartford Investment Management Co. grew its position in Universal Insurance by 7.2% during the third quarter. Hartford Investment Management Co. now owns 18,127 shares of the insurance provider’s stock worth $880,000 after buying an additional 1,210 shares in the last quarter. United Services Automobile Association lifted its stake in Universal Insurance by 4.6% during the second quarter. United Services Automobile Association now owns 33,256 shares of the insurance provider’s stock worth $1,167,000 after purchasing an additional 1,469 shares during the last quarter. Intrust Bank NA lifted its stake in Universal Insurance by 35.1% during the second quarter. Intrust Bank NA now owns 9,161 shares of the insurance provider’s stock worth $322,000 after purchasing an additional 2,381 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Universal Insurance by 3.3% in the 2nd quarter. Rhumbline Advisers now owns 87,337 shares of the insurance provider’s stock valued at $3,066,000 after acquiring an additional 2,757 shares during the last quarter. Finally, Chicago Equity Partners LLC lifted its stake in shares of Universal Insurance by 1.4% in the 3rd quarter. Chicago Equity Partners LLC now owns 232,326 shares of the insurance provider’s stock valued at $11,279,000 after acquiring an additional 3,110 shares during the last quarter. Institutional investors own 75.56% of the company’s stock.
A number of research firms have recently weighed in on UVE. ValuEngine lowered Universal Insurance from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Keefe, Bruyette & Woods lowered Universal Insurance from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $39.00 to $44.00 in a research note on Friday, July 27th.
Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Monday, October 29th. The insurance provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $206.16 million during the quarter. Universal Insurance had a return on equity of 33.17% and a net margin of 19.77%.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 27th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Monday, November 26th.
In other Universal Insurance news, CEO Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $47.66, for a total transaction of $953,200.00. Following the completion of the transaction, the chief executive officer now owns 1,359,141 shares of the company’s stock, valued at approximately $64,776,660.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jon Springer sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The shares were sold at an average price of $45.10, for a total value of $315,700.00. Following the transaction, the insider now directly owns 439,825 shares of the company’s stock, valued at approximately $19,836,107.50. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock valued at $2,822,340 in the last ninety days. 10.60% of the stock is currently owned by corporate insiders.
Universal Insurance Profile
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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