Universal Insurance Holdings Inc (UVE) Stake Lessened by Public Sector Pension investment Board

Public Sector Pension investment Board reduced its stake in shares of Universal Insurance Holdings Inc (NYSE:UVE) by 28.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,852 shares of the insurance provider’s stock after selling 6,800 shares during the quarter. Public Sector Pension investment Board’s holdings in Universal Insurance Holdings were worth $425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of UVE. Russell Investments Group Ltd. boosted its stake in shares of Universal Insurance Holdings by 10.3% during the first quarter. Russell Investments Group Ltd. now owns 49,888 shares of the insurance provider’s stock valued at $1,221,000 after purchasing an additional 4,661 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Universal Insurance Holdings by 2.9% during the first quarter. Great West Life Assurance Co. Can now owns 45,221 shares of the insurance provider’s stock valued at $1,106,000 after purchasing an additional 1,279 shares during the period. First Trust Advisors LP boosted its stake in shares of Universal Insurance Holdings by 5.3% during the first quarter. First Trust Advisors LP now owns 84,218 shares of the insurance provider’s stock valued at $2,063,000 after purchasing an additional 4,240 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Universal Insurance Holdings by 9.1% during the first quarter. Bank of New York Mellon Corp now owns 562,226 shares of the insurance provider’s stock valued at $13,774,000 after purchasing an additional 46,733 shares during the period. Finally, Comerica Bank boosted its stake in shares of Universal Insurance Holdings by 4.4% during the first quarter. Comerica Bank now owns 36,217 shares of the insurance provider’s stock valued at $927,000 after purchasing an additional 1,533 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Shares of Universal Insurance Holdings Inc (NYSE UVE) opened at 23.95 on Thursday. The company has a 50 day moving average price of $21.63 and a 200 day moving average price of $23.65. The company has a market capitalization of $834.56 million, a P/E ratio of 8.48 and a beta of 1.83. Universal Insurance Holdings Inc has a 12-month low of $15.07 and a 12-month high of $29.20.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, September 12th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, September 11th. Universal Insurance Holdings’s dividend payout ratio is presently 19.93%.

A number of analysts have recently issued reports on the stock. ValuEngine lowered shares of Universal Insurance Holdings from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 18th. BidaskClub downgraded Universal Insurance Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $29.00 price objective on shares of Universal Insurance Holdings in a report on Friday, August 18th.

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In other news, CFO Frank Wilcox bought 2,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was bought at an average cost of $17.69 per share, for a total transaction of $35,380.00. Following the acquisition, the chief financial officer now directly owns 96,024 shares of the company’s stock, valued at approximately $1,698,664.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.50% of the company’s stock.

About Universal Insurance Holdings

Universal Insurance Holdings, Inc (UVE) is a private personal residential homeowners insurance company in Florida. The Company performs substantially all aspects of insurance underwriting, policy issuance, general administration, and claims processing and settlement internally. The Company’s subsidiaries include Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property and Casualty Insurance Company (APPCIC).

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Institutional Ownership by Quarter for Universal Insurance Holdings (NYSE:UVE)

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