Valiant Capital Management L.P. Has $11,029,000 Stake in Universal Insurance Holdings Inc. (UVE)
Valiant Capital Management L.P. held its stake in shares of Universal Insurance Holdings Inc. (NYSE:UVE) during the second quarter, Holdings Channel reports. The firm owned 593,621 shares of the company’s stock at the end of the second quarter. Universal Insurance Holdings accounts for about 0.7% of Valiant Capital Management L.P.’s portfolio, making the stock its 14th largest position. Valiant Capital Management L.P.’s holdings in Universal Insurance Holdings were worth $11,029,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in UVE. BNP Paribas Arbitrage SA raised its stake in Universal Insurance Holdings by 96.3% in the second quarter. BNP Paribas Arbitrage SA now owns 11,191 shares of the company’s stock valued at $208,000 after buying an additional 5,491 shares during the period. Springbok Capital Management LLC raised its stake in Universal Insurance Holdings by 150.0% in the first quarter. Springbok Capital Management LLC now owns 13,500 shares of the company’s stock valued at $240,000 after buying an additional 8,100 shares during the period. Fox Run Management L.L.C. bought a new stake in Universal Insurance Holdings during the second quarter valued at approximately $245,000. Acrospire Investment Management LLC bought a new stake in Universal Insurance Holdings during the first quarter valued at approximately $260,000. Finally, Pacad Investment Ltd. bought a new stake in Universal Insurance Holdings during the first quarter valued at approximately $263,000. Institutional investors and hedge funds own 71.95% of the company’s stock.
Shares of Universal Insurance Holdings Inc. (NYSE:UVE) traded down 2.28% during midday trading on Wednesday, reaching $22.29. The company’s stock had a trading volume of 404,623 shares. Universal Insurance Holdings Inc. has a 12-month low of $15.86 and a 12-month high of $37.49. The stock has a 50-day moving average of $24.12 and a 200 day moving average of $20.17. The firm has a market capitalization of $781.53 million, a P/E ratio of 6.73 and a beta of 1.54.
Universal Insurance Holdings (NYSE:UVE) last announced its earnings results on Thursday, July 28th. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.11. The company earned $169.80 million during the quarter, compared to the consensus estimate of $167.40 million. Universal Insurance Holdings had a net margin of 18.11% and a return on equity of 38.12%. Equities research analysts predict that Universal Insurance Holdings Inc. will post $3.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Shareholders of record on Monday, September 12th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.46%. This is an increase from Universal Insurance Holdings’s previous quarterly dividend of $0.12. The ex-dividend date is Thursday, September 8th. Universal Insurance Holdings’s dividend payout ratio (DPR) is 16.92%.
In other Universal Insurance Holdings news, Director Scott P. Callahan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $21.82, for a total value of $218,200.00. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $327,300. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.40% of the stock is currently owned by company insiders.
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 writes personal residential homeowners insurance policies, predominantly in Florida.
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