Robeco Institutional Asset Management B.V. cut its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 23.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,135 shares of the insurance provider’s stock after selling 11,301 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.10% of Universal Insurance worth $1,754,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Universal Insurance in the third quarter worth $4,402,000. Russell Investments Group Ltd. grew its holdings in Universal Insurance by 23.8% in the third quarter. Russell Investments Group Ltd. now owns 81,851 shares of the insurance provider’s stock valued at $3,973,000 after purchasing an additional 15,741 shares during the last quarter. First Trust Advisors LP grew its holdings in Universal Insurance by 38.9% in the third quarter. First Trust Advisors LP now owns 65,054 shares of the insurance provider’s stock valued at $3,158,000 after purchasing an additional 18,218 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Universal Insurance by 407.7% in the third quarter. Nisa Investment Advisors LLC now owns 50,774 shares of the insurance provider’s stock valued at $2,465,000 after purchasing an additional 40,774 shares during the last quarter. Finally, Cue Financial Group Inc. acquired a new stake in Universal Insurance in the third quarter valued at $499,000. 75.56% of the stock is owned by institutional investors and hedge funds.
Universal Insurance stock opened at $44.07 on Friday. 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 price-to-earnings ratio of 9.82 and a beta of 1.88. Universal Insurance Holdings, Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $50.50.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 27th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.45%. The ex-dividend date is Monday, November 26th.
UVE has been the topic of several research reports. Keefe, Bruyette & Woods lowered Universal Insurance from an “outperform” rating to a “market perform” rating and upped their target price for the company from $39.00 to $44.00 in a report on Friday, July 27th. ValuEngine lowered Universal Insurance from a “buy” rating to a “hold” rating in a report on Thursday, November 1st.
In related news, CEO Sean P. Downes sold 20,000 shares of the stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $45.71, for a total transaction of $914,200.00. Following the sale, the chief executive officer now owns 1,351,399 shares of the company’s stock, valued at $61,772,448.29. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jon Springer sold 7,000 shares of the stock in a transaction 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 sale, the insider now directly owns 439,825 shares in the company, valued at approximately $19,836,107.50. The disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock worth $2,822,340 in the last three months. 10.60% of the stock is owned by corporate insiders.
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Universal Insurance Company 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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