Donald Smith & CO. Inc. Trims Position in Universal Insurance Holdings Inc $UVE

Donald Smith & CO. Inc. lessened its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 23.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,149,374 shares of the insurance provider’s stock after selling 345,521 shares during the period. Donald Smith & CO. Inc.’s holdings in Universal Insurance were worth $38,849,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Universal Insurance by 2.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,431 shares of the insurance provider’s stock worth $1,062,000 after acquiring an additional 786 shares during the period. Deutsche Bank AG raised its holdings in shares of Universal Insurance by 151.8% during the 4th quarter. Deutsche Bank AG now owns 50,422 shares of the insurance provider’s stock worth $1,704,000 after acquiring an additional 30,396 shares during the period. LPL Financial LLC purchased a new position in shares of Universal Insurance during the 4th quarter worth $1,317,000. Franklin Resources Inc. raised its holdings in shares of Universal Insurance by 8.8% during the 4th quarter. Franklin Resources Inc. now owns 43,122 shares of the insurance provider’s stock worth $1,458,000 after acquiring an additional 3,484 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Universal Insurance by 1.3% during the 4th quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock worth $965,000 after acquiring an additional 405 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Universal Insurance Stock Performance

NYSE UVE opened at $37.96 on Thursday. The company has a market cap of $1.06 billion, a P/E ratio of 5.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50-day moving average of $37.07 and a two-hundred day moving average of $34.10. Universal Insurance Holdings Inc has a 1-year low of $21.96 and a 1-year high of $41.96.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, April 23rd. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.61. The company had revenue of $398.16 million during the quarter, compared to the consensus estimate of $481.09 million. Universal Insurance had a return on equity of 37.51% and a net margin of 12.22%. As a group, analysts anticipate that Universal Insurance Holdings Inc will post 4.63 EPS for the current year.

Universal Insurance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, May 8th. Universal Insurance’s payout ratio is currently 9.48%.

Analysts Set New Price Targets

Several research firms have recently commented on UVE. Weiss Ratings reiterated a “buy (b)” rating on shares of Universal Insurance in a report on Monday, April 20th. Wall Street Zen lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research upgraded Universal Insurance from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $40.00.

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $34.60, for a total value of $692,000.00. Following the completion of the transaction, the chairman directly owned 1,206,788 shares of the company’s stock, valued at $41,754,864.80. The trade was a 1.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Kimberly D. Campos sold 879 shares of Universal Insurance stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of $33.84, for a total value of $29,745.36. Following the completion of the transaction, the chief accounting officer directly owned 7,422 shares of the company’s stock, valued at approximately $251,160.48. This represents a 10.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 60,879 shares of company stock valued at $2,290,145. 15.00% of the stock is currently owned by corporate insiders.

Universal Insurance 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.