Teacher Retirement System of Texas Boosts Position in Universal Insurance Holdings Inc $UVE

Teacher Retirement System of Texas increased its holdings in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,942 shares of the insurance provider’s stock after purchasing an additional 6,410 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.34% of Universal Insurance worth $2,660,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd lifted its stake in Universal Insurance by 348.9% during the second quarter. Y Intercept Hong Kong Ltd now owns 45,225 shares of the insurance provider’s stock worth $1,254,000 after purchasing an additional 35,150 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Universal Insurance during the second quarter worth approximately $249,000. AlphaQuest LLC lifted its stake in Universal Insurance by 11.4% during the second quarter. AlphaQuest LLC now owns 15,895 shares of the insurance provider’s stock worth $441,000 after purchasing an additional 1,626 shares during the last quarter. Moran Wealth Management LLC purchased a new stake in Universal Insurance during the second quarter worth approximately $259,000. Finally, CWM LLC lifted its stake in Universal Insurance by 80.2% during the second quarter. CWM LLC now owns 6,367 shares of the insurance provider’s stock worth $177,000 after purchasing an additional 2,833 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Wall Street Analysts Forecast Growth

UVE has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Wall Street Zen cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy”.

Universal Insurance Trading Down 2.1%

NYSE:UVE opened at $30.76 on Monday. The firm has a market cap of $871.18 million, a P/E ratio of 7.26 and a beta of 0.79. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $27.08 and its 200-day simple moving average is $25.93. Universal Insurance Holdings Inc has a 12-month low of $18.72 and a 12-month high of $33.00.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.26. The business had revenue of $592.77 million for the quarter, compared to analyst estimates of $366.36 million. Universal Insurance had a return on equity of 28.25% and a net margin of 7.74%. Equities analysts anticipate that Universal Insurance Holdings Inc will post 1.66 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $31.40, for a total value of $628,000.00. Following the transaction, the chairman owned 1,283,512 shares of the company’s stock, valued at approximately $40,302,276.80. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Springer sold 35,435 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $31.41, for a total value of $1,113,013.35. Following the completion of the transaction, the director directly owned 271,628 shares in the company, valued at approximately $8,531,835.48. The trade was a 11.54% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 75,435 shares of company stock worth $2,248,013. Corporate insiders own 16.60% 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.