GSA Capital Partners LLP Buys Shares of 34,154 Universal Insurance Holdings Inc $UVE

GSA Capital Partners LLP acquired a new position in shares of Universal Insurance Holdings Inc (NYSE:UVE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 34,154 shares of the insurance provider’s stock, valued at approximately $1,413,000. GSA Capital Partners LLP owned about 0.12% of Universal Insurance at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in UVE. Torren Management LLC acquired a new stake in shares of Universal Insurance in the fourth quarter valued at approximately $54,000. Tower Research Capital LLC TRC boosted its position in shares of Universal Insurance by 390.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock worth $74,000 after buying an additional 2,114 shares during the period. Parallel Advisors LLC boosted its position in shares of Universal Insurance by 4,847.3% during the first quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock worth $93,000 after buying an additional 2,666 shares during the period. Archer Investment Corp bought a new position in Universal Insurance in the 1st quarter worth approximately $95,000. Finally, IFP Advisors Inc grew its holdings in Universal Insurance by 492.4% in the 4th quarter. IFP Advisors Inc now owns 2,796 shares of the insurance provider’s stock worth $95,000 after buying an additional 2,324 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UVE shares. Piper Sandler lifted their price objective on shares of Universal Insurance from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Zacks Research downgraded shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen cut shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Universal Insurance has a consensus rating of “Hold” and a consensus price target of $45.00.

Universal Insurance Price Performance

UVE opened at $43.27 on Monday. The firm has a market capitalization of $1.20 billion, a P/E ratio of 5.71 and a beta of 0.72. The stock has a fifty day moving average of $40.95 and a 200-day moving average of $37.10. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.15. Universal Insurance Holdings Inc has a 12-month low of $23.32 and a 12-month high of $45.15.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.27. The business had revenue of $419.38 million during the quarter, compared to analyst estimates of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. Equities analysts forecast that Universal Insurance Holdings Inc will post 4.85 EPS for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Investors of record on Friday, July 31st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, July 31st. Universal Insurance’s dividend payout ratio is currently 8.44%.

Insider Activity

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $44.27, for a total transaction of $885,400.00. Following the completion of the transaction, the chairman owned 1,104,645 shares of the company’s stock, valued at approximately $48,902,634.15. The trade was a 1.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.00% of the company’s stock.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.