California Public Employees Retirement System Acquires 3,600 Shares of UNIVERSAL INSURANCE HOLDINGS INC (UVE)

California Public Employees Retirement System boosted its holdings in UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,900 shares of the insurance provider’s stock after acquiring an additional 3,600 shares during the quarter. California Public Employees Retirement System owned 0.18% of UNIVERSAL INSURANCE HOLDINGS INC worth $1,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinebridge Investments L.P. lifted its position in UNIVERSAL INSURANCE HOLDINGS INC by 0.7% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock valued at $108,000 after acquiring an additional 30 shares in the last quarter. Texas Permanent School Fund lifted its position in UNIVERSAL INSURANCE HOLDINGS INC by 0.6% in the 2nd quarter. Texas Permanent School Fund now owns 23,815 shares of the insurance provider’s stock valued at $600,000 after acquiring an additional 132 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in UNIVERSAL INSURANCE HOLDINGS INC by 1.9% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 10,610 shares of the insurance provider’s stock valued at $260,000 after acquiring an additional 200 shares in the last quarter. Renaissance Group LLC lifted its position in UNIVERSAL INSURANCE HOLDINGS INC by 2.1% in the 2nd quarter. Renaissance Group LLC now owns 13,598 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 280 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in UNIVERSAL INSURANCE HOLDINGS INC by 1.1% in the 1st quarter. Legal & General Group Plc now owns 54,457 shares of the insurance provider’s stock valued at $1,332,000 after acquiring an additional 584 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently weighed in on UVE. ValuEngine raised shares of UNIVERSAL INSURANCE HOLDINGS INC from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 6th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $29.00 price target on shares of UNIVERSAL INSURANCE HOLDINGS INC in a research report on Friday, August 18th. Finally, BidaskClub cut shares of UNIVERSAL INSURANCE HOLDINGS INC from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st.

UNIVERSAL INSURANCE HOLDINGS INC (UVE) opened at $23.30 on Monday. UNIVERSAL INSURANCE HOLDINGS INC has a 1 year low of $15.07 and a 1 year high of $29.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market cap of $811.92, a P/E ratio of 8.29 and a beta of 1.85.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 24th. Shareholders of record on Tuesday, September 12th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.56 annualized dividend and a dividend yield of 2.40%. UNIVERSAL INSURANCE HOLDINGS INC’s dividend payout ratio is currently 19.93%.

In other news, CFO Frank Wilcox bought 2,000 shares of the company’s stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $17.69 per share, with a total value of $35,380.00. Following the transaction, the chief financial officer now directly owns 96,024 shares in the company, valued at $1,698,664.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 10.50% of the stock is owned by company insiders.

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UNIVERSAL INSURANCE HOLDINGS INC Profile

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).

Institutional Ownership by Quarter for UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE)

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