Assenagon Asset Management S.A. acquired a new stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 72,911 shares of the insurance provider’s stock, valued at approximately $2,187,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UVE. Point72 Hong Kong Ltd purchased a new stake in Universal Insurance during the second quarter valued at about $29,000. NumerixS Investment Technologies Inc lifted its holdings in Universal Insurance by 137.5% during the second quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 1,100 shares during the last quarter. Reilly Financial Advisors LLC purchased a new stake in Universal Insurance during the third quarter valued at about $90,000. Assetmark Inc. lifted its holdings in Universal Insurance by 1,365.2% during the second quarter. Assetmark Inc. now owns 4,000 shares of the insurance provider’s stock valued at $112,000 after purchasing an additional 3,727 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in Universal Insurance by 135.2% during the second quarter. Bank of Montreal Can now owns 4,476 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 2,573 shares during the last quarter. 73.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Sean P. Downes purchased 1,100 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $26.66 per share, for a total transaction of $29,326.00. Following the completion of the transaction, the director now directly owns 1,431,833 shares in the company, valued at approximately $38,172,667.78. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sean P. Downes purchased 7,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were bought at an average price of $28.68 per share, for a total transaction of $200,760.00. Following the completion of the transaction, the director now owns 1,438,833 shares of the company’s stock, valued at $41,265,730.44. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 18,100 shares of company stock worth $496,186. Company insiders own 11.30% of the company’s stock.
Separately, TheStreet downgraded shares of Universal Insurance from a “b-” rating to a “c” rating in a report on Thursday, August 15th.
Shares of UVE opened at $28.95 on Friday. The business’s 50-day moving average price is $28.10 and its 200-day moving average price is $28.32. Universal Insurance Holdings, Inc. has a twelve month low of $23.57 and a twelve month high of $48.46. The stock has a market cap of $988.93 million, a PE ratio of 8.93 and a beta of 0.95. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.02.
Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.05 earnings per share for the quarter. Universal Insurance had a return on equity of 25.77% and a net margin of 12.14%. The firm had revenue of $233.72 million for the quarter.
Universal Insurance Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner's insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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