Bank of Montreal Can lifted its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE) by 340.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,217 shares of the insurance provider’s stock after acquiring an additional 2,486 shares during the period. Bank of Montreal Can’s holdings in Universal Insurance were worth $53,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in Universal Insurance by 233.2% in the second quarter. PNC Financial Services Group Inc. now owns 4,825 shares of the insurance provider’s stock worth $230,000 after purchasing an additional 3,377 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Universal Insurance by 182.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,480 shares of the insurance provider’s stock valued at $97,000 after acquiring an additional 3,542 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Universal Insurance by 20.0% during the second quarter. Nisa Investment Advisors LLC now owns 6,000 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 1,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Universal Insurance during the first quarter valued at approximately $205,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Universal Insurance by 19.7% during the first quarter. BNP Paribas Arbitrage SA now owns 11,948 shares of the insurance provider’s stock valued at $214,000 after acquiring an additional 1,963 shares in the last quarter. 72.44% of the stock is owned by hedge funds and other institutional investors.
Shares of UVE stock opened at $13.85 on Friday. The firm has a market cap of $441.16 million, a price-to-earnings ratio of 51.30 and a beta of 0.82. The company’s 50 day moving average is $17.68 and its 200 day moving average is $17.70. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.02. Universal Insurance Holdings, Inc. has a 52-week low of $13.55 and a 52-week high of $30.79.
Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $252.70 million for the quarter, compared to analyst estimates of $249.16 million. Universal Insurance had a net margin of 0.94% and a return on equity of 2.23%. Analysts anticipate that Universal Insurance Holdings, Inc. will post 2.48 EPS for the current fiscal year.
UVE has been the subject of several research analyst reports. Piper Sandler decreased their price target on shares of Universal Insurance from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, September 24th. Zacks Investment Research raised shares of Universal Insurance from a “sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, ValuEngine raised shares of Universal Insurance from a “hold” rating to a “buy” rating in a report on Wednesday.
About Universal Insurance
Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. The company develops, markets, and underwrites insurance products for personal residential homeowner’s insurance. It also provides personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire, and commercial residential multi-peril; and allied lines, coverage for other structures, and personal property, as well as liability and personal articles coverages.
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