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 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 149,987 shares of the insurance provider’s stock, valued at approximately $6,203,000. Empowered Funds LLC owned 0.54% of Universal Insurance at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in Universal Insurance by 390.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after buying an additional 2,114 shares in the last quarter. Parallel Advisors LLC boosted its stake in Universal Insurance by 4,847.3% in the 1st quarter. Parallel Advisors LLC now owns 2,721 shares of the insurance provider’s stock worth $93,000 after purchasing an additional 2,666 shares in the last quarter. IFP Advisors Inc boosted its stake 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 purchasing an additional 2,324 shares in the last quarter. Archer Investment Corp purchased a new stake in Universal Insurance during the 1st quarter valued at about $95,000. Finally, Root Financial Partners LLC grew its position in Universal Insurance by 170,750.0% during the 1st quarter. Root Financial Partners LLC now owns 3,417 shares of the insurance provider’s stock valued at $117,000 after purchasing an additional 3,415 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on 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 sale, the chairman owned 1,104,645 shares in the company, valued at approximately $48,902,634.15. This represents a 1.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.00% of the stock is owned by insiders.

Universal Insurance Trading Up 0.3%

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

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $1.84 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 13.49% and a return on equity of 37.67%. Research analysts expect that Universal Insurance Holdings Inc will post 4.85 earnings per share for the current 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 $0.16 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Universal Insurance’s payout ratio is presently 8.44%.

Wall Street Analyst Weigh In

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

Universal Insurance Company Profile

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.