Universal Insurance Holdings, Inc. (NYSE:UVE) Short Interest Down 23.5% in November

Universal Insurance Holdings, Inc. (NYSE:UVE) saw a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 313,000 shares, a drop of 23.5% from the October 31st total of 409,300 shares. Based on an average daily volume of 205,100 shares, the days-to-cover ratio is currently 1.5 days. Currently, 1.2% of the shares of the company are short sold.

Universal Insurance Price Performance

UVE traded down $0.16 during trading on Friday, reaching $22.63. 69,317 shares of the company traded hands, compared to its average volume of 133,123. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $640.20 million, a P/E ratio of 9.20 and a beta of 0.90. The firm has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $20.12. Universal Insurance has a 12-month low of $15.63 and a 12-month high of $23.39.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.30. The business had revenue of $387.55 million for the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same quarter in the previous year, the company posted ($0.16) EPS. On average, equities analysts forecast that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, December 6th. Universal Insurance’s payout ratio is 26.02%.

Insider Buying and Selling

In other news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the completion of the sale, the chairman now directly owns 1,082,262 shares in the company, valued at $24,318,427.14. This represents a 1.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 55,064 shares of company stock worth $1,191,937. 17.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Universal Insurance by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after buying an additional 41,425 shares during the period. Geode Capital Management LLC boosted its stake in shares of Universal Insurance by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after purchasing an additional 49,123 shares during the period. American Century Companies Inc. grew its holdings in Universal Insurance by 44.5% during the 2nd quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after purchasing an additional 144,647 shares during the last quarter. Bank of Montreal Can grew its holdings in Universal Insurance by 283.0% during the 2nd quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after purchasing an additional 276,700 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock worth $7,698,000 after purchasing an additional 63,582 shares during the period. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

Universal Insurance Company Profile

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.