Emerald Acquisition Ltd. bought a new position in shares of Universal Insurance Holdings Inc. (NYSE:UVE) during the second quarter, Holdings Channel reports. The firm bought 68,690 shares of the company’s stock, valued at approximately $1,276,000. Emerald Acquisition Ltd. owned about 0.20% of Universal Insurance Holdings at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in UVE. Glenmede Trust Co. NA raised its stake in Universal Insurance Holdings by 3,176.0% in the first quarter. Glenmede Trust Co. NA now owns 16,380 shares of the company’s stock worth $290,000 after buying an additional 15,880 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Universal Insurance Holdings during the first quarter valued at about $263,000. Teachers Advisors Inc. raised its stake in shares of Universal Insurance Holdings by 48.3% in the first quarter. Teachers Advisors Inc. now owns 457,423 shares of the company’s stock valued at $8,142,000 after buying an additional 148,982 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Universal Insurance Holdings by 2.9% in the first quarter. BlackRock Group LTD now owns 56,081 shares of the company’s stock valued at $998,000 after buying an additional 1,557 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in shares of Universal Insurance Holdings during the first quarter valued at about $260,000. Institutional investors own 71.95% of the company’s stock.
Shares of Universal Insurance Holdings Inc. (NYSE:UVE) traded up 16.7099% during mid-day trading on Friday, hitting $22.7701. The company had a trading volume of 2,282,767 shares. The company has a market capitalization of $798.37 million, a P/E ratio of 6.8771 and a beta of 1.54. Universal Insurance Holdings Inc. has a one year low of $15.86 and a one year high of $37.49. The firm’s 50-day moving average price is $24.05 and its 200 day moving average price is $20.18.
Universal Insurance Holdings (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.11. Universal Insurance Holdings had a net margin of 18.11% and a return on equity of 38.12%. The firm earned $169.80 million during the quarter, compared to analysts’ expectations of $167.40 million. Analysts predict that Universal Insurance Holdings Inc. will post $3.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Monday, September 12th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, September 8th. This is a boost from Universal Insurance Holdings’s previous quarterly dividend of $0.12. Universal Insurance Holdings’s payout ratio is 16.92%.
In other Universal Insurance Holdings news, Director Scott P. Callahan sold 10,000 shares of Universal Insurance Holdings stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $21.82, for a total transaction of $218,200.00. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $327,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.40% of the stock is currently owned by corporate insiders.
Universal Insurance Holdings Company Profile
Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company writes personal residential homeowners insurance policies, predominantly in Florida.
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