Ariadne Wealth Management LP Buys Shares of 23,047 Universal Insurance Holdings, Inc. (NYSE:UVE)

Ariadne Wealth Management LP purchased a new position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 23,047 shares of the insurance provider’s stock, valued at approximately $432,000. Ariadne Wealth Management LP owned approximately 0.08% of Universal Insurance at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Quarry LP raised its position in Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 1,129 shares in the last quarter. Occidental Asset Management LLC acquired a new position in shares of Universal Insurance in the 2nd quarter worth $196,000. SG Americas Securities LLC raised its position in shares of Universal Insurance by 17.4% during the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock worth $232,000 after purchasing an additional 1,833 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Universal Insurance during the 1st quarter worth about $289,000. Finally, Bailard Inc. lifted its stake in Universal Insurance by 33.3% during the second quarter. Bailard Inc. now owns 16,800 shares of the insurance provider’s stock valued at $315,000 after buying an additional 4,200 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Universal Insurance news, Director Jon Springer sold 35,173 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the completion of the sale, the director now owns 473,899 shares in the company, valued at approximately $9,729,146.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total value of $400,000.00. Following the completion of the transaction, the chairman now owns 1,122,262 shares in the company, valued at approximately $22,445,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were 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 approximately $9,729,146.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,173 shares of company stock valued at $1,571,502. 17.50% of the stock is currently owned by corporate insiders.

Universal Insurance Stock Performance

Shares of UVE opened at $22.16 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.26. The firm has a market cap of $631.12 million, a price-to-earnings ratio of 8.69 and a beta of 0.89. Universal Insurance Holdings, Inc. has a 12 month low of $13.10 and a 12 month high of $23.27. The company’s fifty day moving average is $20.62 and its 200-day moving average is $19.80.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $340.09 million. During the same period in the previous year, the company posted $0.87 earnings per share. Equities analysts expect that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current fiscal year.

Universal Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, August 2nd were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Friday, August 2nd. Universal Insurance’s dividend payout ratio is 25.10%.

Analysts Set New Price Targets

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

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.