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

AQR Capital Management LLC decreased its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 33.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,698 shares of the insurance provider’s stock after selling 174,635 shares during the period. AQR Capital Management LLC owned approximately 1.20% of Universal Insurance worth $6,392,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UVE. Occidental Asset Management LLC purchased a new position in shares of Universal Insurance in the second quarter valued at $196,000. SG Americas Securities LLC increased its holdings in Universal Insurance by 17.4% during the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock valued at $232,000 after acquiring an additional 1,833 shares in the last quarter. Counterpoint Mutual Funds LLC acquired a new position in Universal Insurance during the first quarter worth about $289,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of Universal Insurance in the first quarter valued at about $326,000. Finally, Bailard Inc. grew its position in shares of Universal Insurance by 33.3% in the second quarter. Bailard Inc. now owns 16,800 shares of the insurance provider’s stock valued at $315,000 after purchasing an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the chairman now owns 1,122,262 shares in the company, valued at $22,445,240. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the transaction, the chairman now directly owns 1,122,262 shares of the company’s stock, valued at $22,445,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,173 shares of company stock worth $1,571,502. 17.50% of the stock is currently owned by corporate insiders.

Universal Insurance Price Performance

UVE opened at $21.11 on Friday. The company has a 50 day moving average of $20.69 and a two-hundred day moving average of $19.83. Universal Insurance Holdings, Inc. has a 52-week low of $13.10 and a 52-week high of $23.27. 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 company has a market cap of $601.21 million, a P/E ratio of 8.28 and a beta of 0.89.

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

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, August 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Friday, August 2nd. Universal Insurance’s payout ratio is currently 25.10%.

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.