Counterpoint Mutual Funds LLC Acquires 7,180 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Counterpoint Mutual Funds LLC raised its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 60.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 18,990 shares of the insurance provider’s stock after purchasing an additional 7,180 shares during the quarter. Counterpoint Mutual Funds LLC’s holdings in Universal Insurance were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP raised its stake in Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after buying an additional 776 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Universal Insurance during the third quarter worth approximately $206,000. PDT Partners LLC bought a new position in shares of Universal Insurance during the third quarter worth approximately $225,000. Victory Capital Management Inc. bought a new position in shares of Universal Insurance during the fourth quarter worth approximately $240,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Universal Insurance during the third quarter worth approximately $241,000. Institutional investors own 66.61% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research note on Tuesday.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $22.08, for a total value of $441,600.00. Following the sale, the chairman now owns 990,200 shares of the company’s stock, valued at approximately $21,863,616. This trade represents a 1.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jon Springer sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares in the company, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,000 shares of company stock valued at $2,424,450 over the last 90 days. 17.50% of the stock is owned by corporate insiders.

Universal Insurance Price Performance

Shares of NYSE UVE opened at $21.86 on Tuesday. The firm has a market cap of $614.04 million, a P/E ratio of 8.88 and a beta of 0.84. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance Holdings, Inc. has a 1-year low of $16.50 and a 1-year high of $23.39. The business’s 50 day moving average is $20.28 and its 200-day moving average is $20.79.

Universal Insurance (NYSE:UVE) last announced its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. The company had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. Equities research analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current year.

Universal Insurance Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 7th were given a dividend of $0.16 per share. The ex-dividend date was Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.93%. This is an increase from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s dividend payout ratio is currently 32.16%.

About Universal Insurance

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.