Universal Insurance Holdings, Inc. (NYSE:UVE) Sees Significant Decrease in Short Interest

Universal Insurance Holdings, Inc. (NYSE:UVE) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 316,700 shares, a decrease of 16.3% from the February 13th total of 378,200 shares. Based on an average daily trading volume, of 146,600 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.2% of the company’s shares are short sold.

Universal Insurance Trading Up 0.5 %

NYSE UVE traded up $0.11 during trading hours on Thursday, hitting $21.61. 22,585 shares of the company’s stock were exchanged, compared to its average volume of 167,453. The firm has a market capitalization of $607.07 million, a P/E ratio of 8.78 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The business’s 50 day moving average is $20.35 and its 200-day moving average is $20.80. Universal Insurance has a 12-month low of $16.50 and a 12-month high of $23.39.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. The company had revenue of $384.81 million during the quarter, compared to analyst estimates of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. As a group, analysts anticipate that Universal Insurance will post 1.66 EPS for the current fiscal year.

Universal Insurance Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 7th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. This represents a $0.64 annualized dividend and a yield of 2.96%. Universal Insurance’s dividend payout ratio is currently 32.16%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Tuesday.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the transaction, the chairman now directly owns 990,200 shares in the company, valued at approximately $21,863,616. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 90,000 shares of company stock worth $1,908,700. 17.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

Large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Universal Insurance during the 4th quarter valued at approximately $928,000. Mackenzie Financial Corp bought a new position in Universal Insurance during the 4th quarter worth approximately $594,000. Sunbelt Securities Inc. bought a new position in Universal Insurance during the 4th quarter worth approximately $118,000. Man Group plc lifted its holdings in Universal Insurance by 31.3% during the 4th quarter. Man Group plc now owns 71,313 shares of the insurance provider’s stock worth $1,502,000 after buying an additional 17,020 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Universal Insurance by 120.6% during the 4th quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider’s stock worth $2,666,000 after buying an additional 69,205 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.