Universal Insurance Holdings, Inc. (NYSE:UVE) Short Interest Update

Universal Insurance Holdings, Inc. (NYSE:UVE) was the recipient of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 313,000 shares, a decrease of 23.5% from the October 31st total of 409,300 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 205,100 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the completion of the sale, the chairman now owns 1,062,262 shares in the company, valued at approximately $21,468,315.02. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 55,064 shares of company stock valued at $1,191,937. 17.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UVE. Vanguard Group Inc. raised its stake in shares of Universal Insurance by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after purchasing an additional 41,425 shares during the last quarter. Geode Capital Management LLC increased its holdings in Universal Insurance by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after buying an additional 49,123 shares in the last quarter. American Century Companies Inc. raised its position in Universal Insurance by 44.5% in the 2nd quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock worth $8,814,000 after buying an additional 144,647 shares during the last quarter. Bank of Montreal Can lifted its stake in Universal Insurance by 283.0% during the 2nd quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after acquiring an additional 276,700 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Universal Insurance by 22.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after acquiring an additional 63,582 shares during the last quarter. Institutional investors own 66.61% of the company’s stock.

Universal Insurance Trading Down 0.7 %

Shares of UVE traded down $0.16 during mid-day trading on Friday, hitting $22.63. 69,317 shares of the company’s stock traded hands, compared to its average volume of 133,123. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $640.20 million, a P/E ratio of 9.20 and a beta of 0.90. The business’s 50-day moving average price is $20.92 and its 200-day moving average price is $20.12. Universal Insurance has a 1 year low of $15.63 and a 1 year high of $23.39.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, topping the consensus estimate of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. During the same period last year, the business posted ($0.16) earnings per share. As a group, sell-side analysts forecast that Universal Insurance will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.13 per share. The ex-dividend date is Friday, December 6th. This represents a $0.52 annualized dividend and a dividend yield of 2.30%. Universal Insurance’s payout ratio is 26.02%.

Universal Insurance Company Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.