Islay Capital Management LLC Has $940,000 Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Islay Capital Management LLC lifted its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,825 shares of the insurance provider’s stock after buying an additional 3,967 shares during the period. Islay Capital Management LLC owned about 0.20% of Universal Insurance worth $940,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of UVE. Donald Smith & CO. Inc. increased its holdings in Universal Insurance by 31.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 1,702,188 shares of the insurance provider’s stock valued at $27,201,000 after purchasing an additional 404,446 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Universal Insurance during the 3rd quarter valued at $7,935,000. Jacobs Levy Equity Management Inc. increased its holdings in Universal Insurance by 0.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 433,706 shares of the insurance provider’s stock valued at $6,081,000 after purchasing an additional 2,175 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in Universal Insurance during the 4th quarter valued at $6,387,000. Finally, Acadian Asset Management LLC increased its holdings in Universal Insurance by 250.2% during the 3rd quarter. Acadian Asset Management LLC now owns 339,962 shares of the insurance provider’s stock valued at $4,765,000 after purchasing an additional 242,895 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Universal Insurance Trading Up 0.7 %

UVE traded up $0.14 during mid-day trading on Tuesday, reaching $19.76. The stock had a trading volume of 60,872 shares, compared to its average volume of 186,677. The stock has a market capitalization of $572.45 million, a P/E ratio of 7.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.53 and a current ratio of 0.44. The firm’s fifty day simple moving average is $19.60 and its two-hundred day simple moving average is $17.38. Universal Insurance Holdings, Inc. has a 52 week low of $11.15 and a 52 week high of $22.38.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.20. Universal Insurance had a return on equity of 19.67% and a net margin of 5.29%. The business had revenue of $375.46 million for the quarter, compared to analyst estimates of $328.12 million. On average, equities analysts predict that Universal Insurance Holdings, Inc. will post 2.3 EPS for the current year.

Universal Insurance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be given a $0.16 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.64 annualized dividend and a dividend yield of 3.24%. Universal Insurance’s dividend payout ratio is currently 25.10%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TheStreet raised Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th. StockNews.com lowered Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $25.00 price objective on shares of Universal Insurance in a research report on Monday, April 1st.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now directly owns 1,191,390 shares in the company, valued at approximately $23,267,846.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.70% of the stock is owned by corporate insiders.

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.