JPMorgan Chase & Co. reduced its position in shares of UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE) by 14.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,099 shares of the insurance provider’s stock after selling 51,005 shares during the period. JPMorgan Chase & Co. owned approximately 0.87% of UNIVERSAL INSURANCE HOLDINGS INC worth $7,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UVE. Victory Capital Management Inc. lifted its stake in UNIVERSAL INSURANCE HOLDINGS INC by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock worth $118,000 after purchasing an additional 703 shares during the last quarter. LS Investment Advisors LLC boosted its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 332.6% in the 1st quarter. LS Investment Advisors LLC now owns 5,105 shares of the insurance provider’s stock valued at $125,000 after purchasing an additional 3,925 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 7.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,159 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 372 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 77.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,414 shares of the insurance provider’s stock valued at $161,000 after purchasing an additional 2,804 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its holdings in shares of UNIVERSAL INSURANCE HOLDINGS INC by 7.4% in the 1st quarter. Mason Street Advisors LLC now owns 7,649 shares of the insurance provider’s stock valued at $187,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE) opened at 23.00 on Monday. UNIVERSAL INSURANCE HOLDINGS INC has a 52 week low of $15.08 and a 52 week high of $29.20. The firm’s 50-day moving average price is $21.93 and its 200 day moving average price is $23.87. The firm has a market cap of $801.46 million, a P/E ratio of 8.14 and a beta of 1.83.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, September 12th will be paid a $0.14 dividend. The ex-dividend date is Monday, September 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.43%. UNIVERSAL INSURANCE HOLDINGS INC’s dividend payout ratio is currently 19.93%.

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In other UNIVERSAL INSURANCE HOLDINGS INC news, CFO Frank Wilcox purchased 2,000 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $17.69 per share, with a total value of $35,380.00. Following the acquisition, the chief financial officer now directly owns 96,024 shares in the company, valued at approximately $1,698,664.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.50% of the stock is owned by corporate insiders.

Several equities analysts have recently issued reports on UVE shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price target on shares of UNIVERSAL INSURANCE HOLDINGS INC in a research note on Friday, August 18th. BidaskClub cut UNIVERSAL INSURANCE HOLDINGS INC from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, ValuEngine downgraded UNIVERSAL INSURANCE HOLDINGS INC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 18th.

UNIVERSAL INSURANCE HOLDINGS INC 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’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

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Institutional Ownership by Quarter for UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE)

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