Universal Insurance Holdings, Inc. (NYSE:UVE) Shares Sold by EMC Capital Management

EMC Capital Management trimmed its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 41.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,598 shares of the insurance provider’s stock after selling 3,890 shares during the period. EMC Capital Management’s holdings in Universal Insurance were worth $118,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in UVE. Quarry LP lifted its holdings in shares of Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,129 shares in the last quarter. Covestor Ltd raised its position in shares of Universal Insurance by 240.1% during the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 1,328 shares during the last quarter. CWM LLC lifted its stake in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after buying an additional 723 shares in the last quarter. Aigen Investment Management LP acquired a new stake in Universal Insurance during the 3rd quarter valued at $202,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Universal Insurance during the third quarter worth $206,000. 66.61% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Stock Performance

NYSE:UVE opened at $19.52 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The firm has a market cap of $552.11 million, a PE ratio of 7.93 and a beta of 0.93. The firm has a 50 day simple moving average of $20.76 and a 200-day simple moving average of $20.58. Universal Insurance Holdings, Inc. has a 1-year low of $15.78 and a 1-year high of $23.39.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, December 6th. Universal Insurance’s dividend payout ratio is presently 26.02%.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares in the company, valued at $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the sale, the chairman now owns 985,320 shares of the company’s stock, valued at $20,208,913.20. The trade was a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 90,064 shares of company stock worth $1,879,587 over the last quarter. 17.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Monday.

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.