Nordea Investment Management AB increased its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 102.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 360,726 shares of the insurance provider’s stock after buying an additional 182,912 shares during the quarter. Nordea Investment Management AB owned about 1.13% of Universal Insurance worth $6,280,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Comerica Bank increased its stake in shares of Universal Insurance by 2.7% in the 1st quarter. Comerica Bank now owns 29,579 shares of the insurance provider’s stock worth $519,000 after acquiring an additional 787 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Universal Insurance by 20.0% during the second quarter. Nisa Investment Advisors LLC now owns 6,000 shares of the insurance provider’s stock worth $107,000 after purchasing an additional 1,000 shares during the period. SG Americas Securities LLC raised its stake in Universal Insurance by 12.9% during the first quarter. SG Americas Securities LLC now owns 10,505 shares of the insurance provider’s stock worth $188,000 after purchasing an additional 1,203 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Universal Insurance by 5.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 25,607 shares of the insurance provider’s stock valued at $459,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Stone Ridge Asset Management LLC grew its stake in shares of Universal Insurance by 12.9% in the 2nd quarter. Stone Ridge Asset Management LLC now owns 13,983 shares of the insurance provider’s stock valued at $248,000 after buying an additional 1,600 shares during the period. 72.44% of the stock is currently owned by institutional investors.
NYSE UVE opened at $18.63 on Monday. The firm has a market cap of $593.42 million, a PE ratio of 69.00 and a beta of 0.82. Universal Insurance Holdings, Inc. has a one year low of $14.20 and a one year high of $30.79. The firm’s fifty day moving average is $18.56 and its two-hundred day moving average is $18.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.63 and a current ratio of 0.63.
Universal Insurance (NYSE:UVE) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The firm had revenue of $252.70 million during the quarter, compared to analysts’ expectations of $249.16 million. Universal Insurance had a net margin of 0.94% and a return on equity of 2.23%. Research analysts predict that Universal Insurance Holdings, Inc. will post 2.48 earnings per share for the current year.
UVE has been the topic of a number of recent analyst reports. Piper Sandler began coverage on Universal Insurance in a report on Thursday, May 28th. They issued a “neutral” rating and a $19.00 price objective on the stock. ValuEngine raised Universal Insurance from a “sell” rating to a “hold” rating in a research note on Wednesday, June 3rd. Finally, Zacks Investment Research raised Universal Insurance from a “sell” rating to a “hold” rating in a research report on Thursday, August 13th.
Universal Insurance Company Profile
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner’s insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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