Macquarie Group Ltd. bought a new position in Universal Insurance Holdings Inc. (NYSE:UVE) during the second quarter, Holdings Channel reports. The firm bought 31,905 shares of the company’s stock, valued at approximately $593,000. Macquarie Group Ltd. owned about 0.09% of Universal Insurance Holdings as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Old Mutual Global Investors UK Ltd. acquired a new stake in Universal Insurance Holdings during the second quarter worth $390,000. Springbok Capital Management LLC raised its stake in Universal Insurance Holdings by 150.0% in the first quarter. Springbok Capital Management LLC now owns 13,500 shares of the company’s stock worth $240,000 after buying an additional 8,100 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Universal Insurance Holdings by 18.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 25,177 shares of the company’s stock worth $448,000 after buying an additional 3,987 shares during the last quarter. 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. Finally, Clark Capital Management Group Inc. raised its stake in Universal Insurance Holdings by 60.5% in the first quarter. Clark Capital Management Group Inc. now owns 49,577 shares of the company’s stock worth $882,000 after buying an additional 18,687 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Universal Insurance Holdings Inc. (NYSE:UVE) opened at 24.43 on Tuesday. The firm’s 50-day moving average is $23.68 and its 200-day moving average is $19.92. The company has a market capitalization of $856.56 million, a price-to-earnings ratio of 7.38 and a beta of 1.55. Universal Insurance Holdings Inc. has a 12-month low of $15.86 and a 12-month high of $37.49.
Universal Insurance Holdings (NYSE:UVE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had revenue of $169.80 million for the quarter, compared to the consensus estimate of $167.40 million. On average, equities analysts predict that Universal Insurance Holdings Inc. will post $3.07 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Monday, September 12th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Universal Insurance Holdings’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Thursday, September 8th. Universal Insurance Holdings’s dividend payout ratio is presently 16.92%.
In other news, Director Scott P. Callahan sold 10,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $21.82, for a total value of $218,200.00. Following the sale, the director now directly owns 15,000 shares of the company’s stock, valued at $327,300. The sale was disclosed in a legal filing with the SEC, which is available at this link. 8.40% of the stock is currently owned by 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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