GSA Capital Partners LLP Invests $1.05 Million in Universal Insurance Holdings, Inc. (UVE) Stock
GSA Capital Partners LLP acquired a new stake in Universal Insurance Holdings, Inc. (NYSE:UVE) in the first quarter, HoldingsChannel reports. The firm acquired 33,023 shares of the insurance provider’s stock, valued at approximately $1,053,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of UVE. Matarin Capital Management LLC acquired a new stake in Universal Insurance in the first quarter valued at $8,438,000. JPMorgan Chase & Co. boosted its position in Universal Insurance by 28.5% during the first quarter. JPMorgan Chase & Co. now owns 539,562 shares of the insurance provider’s stock valued at $17,213,000 after acquiring an additional 119,747 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Universal Insurance during the first quarter valued at $3,740,000. Millennium Management LLC boosted its position in Universal Insurance by 29.0% during the fourth quarter. Millennium Management LLC now owns 450,303 shares of the insurance provider’s stock valued at $12,316,000 after acquiring an additional 101,278 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in Universal Insurance by 46.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 318,026 shares of the insurance provider’s stock valued at $8,699,000 after acquiring an additional 100,257 shares during the last quarter. Institutional investors and hedge funds own 71.26% of the company’s stock.
A number of brokerages have commented on UVE. ValuEngine raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 13th. Keefe, Bruyette & Woods set a $35.00 price target on shares of Universal Insurance and gave the company a “buy” rating in a research report on Tuesday, April 10th.
Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Tuesday, April 24th. The insurance provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.35. The business had revenue of $191.50 million for the quarter. Universal Insurance had a net margin of 15.07% and a return on equity of 26.52%.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Monday, July 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, June 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.80%. This is a boost from Universal Insurance’s previous quarterly dividend of $0.14.
In other news, CFO Frank Wilcox sold 14,000 shares of the stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $32.36, for a total transaction of $453,040.00. Following the transaction, the chief financial officer now owns 132,324 shares of the company’s stock, valued at approximately $4,282,004.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ralph J. Palmieri sold 7,800 shares of the stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $36.41, for a total transaction of $283,998.00. Following the transaction, the director now directly owns 7,898 shares in the company, valued at approximately $287,566.18. The disclosure for this sale can be found here. Insiders have sold 145,302 shares of company stock worth $4,901,291 in the last ninety days. Insiders own 10.60% of the company’s stock.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company primarily offers personal residential homeowner's insurance. It also underwrites homeowner's multi-peril insurance; and fire, commercial multi-peril, and other liability lines of business.
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