Universal Insurance Holdings, Inc. (UVE) Shares Bought by LSV Asset Management

Share on StockTwits

LSV Asset Management grew its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 1.6% during the second quarter, HoldingsChannel reports. The firm owned 1,712,660 shares of the insurance provider’s stock after buying an additional 26,801 shares during the quarter. LSV Asset Management’s holdings in Universal Insurance were worth $60,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Convergence Investment Partners LLC bought a new stake in shares of Universal Insurance in the 2nd quarter valued at $830,000. SG Americas Securities LLC increased its stake in shares of Universal Insurance by 95.9% in the 2nd quarter. SG Americas Securities LLC now owns 14,109 shares of the insurance provider’s stock valued at $495,000 after acquiring an additional 6,908 shares in the last quarter. Strs Ohio increased its stake in shares of Universal Insurance by 63.7% in the 2nd quarter. Strs Ohio now owns 28,000 shares of the insurance provider’s stock valued at $982,000 after acquiring an additional 10,900 shares in the last quarter. Bowling Portfolio Management LLC increased its stake in shares of Universal Insurance by 703.8% in the 2nd quarter. Bowling Portfolio Management LLC now owns 57,991 shares of the insurance provider’s stock valued at $2,035,000 after acquiring an additional 50,776 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased 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 in the last quarter. Institutional investors own 73.20% of the company’s stock.

In related news, COO Stephen Donaghy sold 10,514 shares of Universal Insurance stock in a transaction on Friday, July 27th. The shares were sold at an average price of $42.33, for a total value of $445,057.62. Following the completion of the sale, the chief operating officer now owns 458,093 shares of the company’s stock, valued at approximately $19,391,076.69. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $35.77, for a total transaction of $715,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,479,141 shares of the company’s stock, valued at approximately $52,908,873.57. The disclosure for this sale can be found here. In the last three months, insiders sold 158,505 shares of company stock valued at $6,426,047. 10.60% of the stock is currently owned by insiders.

NYSE:UVE opened at $44.65 on Tuesday. The firm has a market capitalization of $1.55 billion, a PE ratio of 11.98 and a beta of 1.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.71 and a quick ratio of 0.71. Universal Insurance Holdings, Inc. has a twelve month low of $15.07 and a twelve month high of $45.90.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Wednesday, July 25th. The insurance provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.25. The company had revenue of $209.79 million during the quarter. Universal Insurance had a net margin of 16.71% and a return on equity of 29.16%.

Several analysts have recently weighed in on UVE shares. Keefe, Bruyette & Woods lowered shares of Universal Insurance from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $39.00 to $44.00 in a research note on Friday, July 27th. ValuEngine upgraded shares of Universal Insurance from a “hold” rating to a “buy” rating in a research note on Thursday, July 26th.

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.

Read More: Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding UVE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Universal Insurance Holdings, Inc. (NYSE:UVE).

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

Receive News & Ratings for Universal Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Insurance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply