Essex Investment Management Co. LLC Raises Stake in Universal Insurance Holdings, Inc. (NYSE:UVE)

Essex Investment Management Co. LLC boosted its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 64.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 201,639 shares of the insurance provider’s stock after buying an additional 79,138 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.71% of Universal Insurance worth $4,468,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. CWM LLC increased its position in Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after buying an additional 723 shares during the last quarter. SG Americas Securities LLC increased its holdings in Universal Insurance by 57.3% in the 3rd quarter. SG Americas Securities LLC now owns 19,464 shares of the insurance provider’s stock worth $431,000 after acquiring an additional 7,090 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Universal Insurance in the 2nd quarter valued at about $567,000. Ariadne Wealth Management LP purchased a new stake in Universal Insurance during the second quarter valued at about $432,000. Finally, Truist Financial Corp bought a new position in Universal Insurance during the second quarter worth about $336,000. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 5th.

Insider Buying and Selling

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $22.47, for a total value of $449,400.00. Following the sale, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at $24,318,427.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the sale, the chairman now owns 1,082,262 shares in the company, valued at $24,318,427.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jon Springer sold 35,173 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the transaction, the director now owns 473,899 shares of the company’s stock, valued at $9,729,146.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,173 shares of company stock valued at $1,571,502. Company insiders own 17.50% of the company’s stock.

Universal Insurance Stock Performance

Shares of Universal Insurance stock traded up $0.05 during trading hours on Friday, reaching $19.01. The company had a trading volume of 305,355 shares, compared to its average volume of 293,633. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54. Universal Insurance Holdings, Inc. has a one year low of $13.52 and a one year high of $23.27. The firm has a market cap of $541.40 million, a PE ratio of 6.72 and a beta of 0.89. The business has a fifty day simple moving average of $20.58 and a 200 day simple moving average of $19.78.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The business had revenue of $380.21 million during the quarter, compared to analyst estimates of $340.09 million. During the same quarter in the previous year, the firm earned $0.87 EPS. On average, analysts anticipate that Universal Insurance Holdings, Inc. will post 2.3 earnings per share for the current fiscal year.

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.