Counterpoint Mutual Funds LLC Purchases Shares of 14,229 Universal Insurance Holdings, Inc. (NYSE:UVE)

Counterpoint Mutual Funds LLC purchased a new stake in Universal Insurance Holdings, Inc. (NYSE:UVE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,229 shares of the insurance provider’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AJOVista LLC purchased a new stake in shares of Universal Insurance in the 4th quarter valued at about $25,000. Tompkins Financial Corp purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at about $153,000. Laurion Capital Management LP purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at about $154,000. Aigen Investment Management LP purchased a new stake in shares of Universal Insurance in the 4th quarter valued at about $296,000. Finally, Graham Capital Management L.P. purchased a new stake in shares of Universal Insurance in the 3rd quarter valued at about $328,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on UVE shares. Piper Sandler restated an “overweight” rating and issued a $25.00 price target on shares of Universal Insurance in a research report on Monday, April 1st. StockNews.com upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th.

Universal Insurance Stock Performance

UVE stock traded down $0.14 during trading on Wednesday, hitting $18.47. The company had a trading volume of 96,322 shares, compared to its average volume of 178,163. The firm has a market cap of $531.94 million, a PE ratio of 7.22 and a beta of 0.86. Universal Insurance Holdings, Inc. has a 1-year low of $11.15 and a 1-year high of $22.38. The firm has a 50-day moving average price of $19.50 and a 200-day moving average price of $18.44. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.28.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Thursday, April 25th. The insurance provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.03. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. The firm had revenue of $367.96 million for the quarter, compared to analysts’ expectations of $336.09 million. On average, analysts expect that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current year.

Universal Insurance Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 10th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, May 9th. Universal Insurance’s payout ratio is 25.10%.

Insiders Place Their Bets

In other Universal Insurance news, Director Michael Pietrangelo sold 12,351 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.43, for a total transaction of $252,330.93. Following the transaction, the director now owns 80,074 shares in the company, valued at approximately $1,635,911.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Universal Insurance news, Director Michael Pietrangelo sold 12,351 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $20.43, for a total transaction of $252,330.93. Following the transaction, the director now owns 80,074 shares in the company, valued at approximately $1,635,911.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $19.72, for a total value of $394,400.00. Following the sale, the chairman now directly owns 1,162,262 shares in the company, valued at approximately $22,919,806.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,351 shares of company stock worth $1,012,931. Company insiders own 17.50% 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. 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.