Empowered Funds LLC Invests $6.20 Million in Universal Insurance Holdings Inc $UVE

Empowered Funds LLC acquired a new stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 149,987 shares of the insurance provider’s stock, valued at approximately $6,203,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its position in 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 valued at $74,000 after purchasing an additional 2,114 shares in the last quarter. Parallel Advisors LLC increased its position in Universal Insurance by 4,847.3% in 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 in the last quarter. Archer Investment Corp purchased a new stake in Universal Insurance in the first quarter worth about $95,000. IFP Advisors Inc raised its stake in shares of Universal Insurance by 492.4% in the fourth 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 during the period. Finally, Root Financial Partners LLC raised its stake in shares of Universal Insurance by 170,750.0% in the first quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider’s stock worth $117,000 after buying an additional 3,415 shares during the period. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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 value of $885,400.00. Following the sale, the chairman directly owned 1,104,645 shares in the company, valued at approximately $48,902,634.15. The trade was a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.

Universal Insurance Stock Up 0.3%

Shares of UVE opened at $43.54 on Monday. The business’s 50 day moving average is $42.01 and its 200 day moving average is $37.96. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.15. Universal Insurance Holdings Inc has a 12-month low of $24.09 and a 12-month high of $45.15. The company has a market capitalization of $1.21 billion, a PE ratio of 5.74 and a beta of 0.72.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $1.84 earnings per share 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 the consensus estimate of $614.62 million. Universal Insurance had a return on equity of 37.67% and a net margin of 13.49%. Research analysts expect that Universal Insurance Holdings Inc will post 4.85 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 7th. Stockholders of record on Friday, July 31st were given a dividend of $0.16 per share. The ex-dividend date was Friday, July 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.5%. Universal Insurance’s dividend payout ratio (DPR) is presently 8.44%.

Analyst Ratings Changes

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

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.