UNIVERSAL INSURANCE HOLDINGS INC (NYSE:UVE) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $17.65 and last traded at $17.80, with a volume of 915,279 shares traded. The stock had previously closed at $21.55.

Several research analysts recently commented on UVE shares. ValuEngine cut UNIVERSAL INSURANCE HOLDINGS INC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 18th. BidaskClub cut UNIVERSAL INSURANCE HOLDINGS INC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $29.00 price target on shares of UNIVERSAL INSURANCE HOLDINGS INC in a research note on Friday, August 18th.

The company has a 50-day moving average of $23.26 and a 200-day moving average of $24.46. The firm has a market cap of $622.87 million, a price-to-earnings ratio of 6.330 and a beta of 1.84.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, September 12th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, September 11th. UNIVERSAL INSURANCE HOLDINGS INC’s dividend payout ratio (DPR) is 19.93%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of UNIVERSAL INSURANCE HOLDINGS INC by 73,456.7% in the first quarter. BlackRock Inc. now owns 4,062,534 shares of the insurance provider’s stock valued at $99,533,000 after buying an additional 4,057,011 shares during the period. Vanguard Group Inc. lifted its stake in shares of UNIVERSAL INSURANCE HOLDINGS INC by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,730,592 shares of the insurance provider’s stock valued at $94,011,000 after buying an additional 55,438 shares during the period. LSV Asset Management lifted its stake in shares of UNIVERSAL INSURANCE HOLDINGS INC by 4.3% in the second quarter. LSV Asset Management now owns 1,662,159 shares of the insurance provider’s stock valued at $41,886,000 after buying an additional 68,231 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of UNIVERSAL INSURANCE HOLDINGS INC by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,631,586 shares of the insurance provider’s stock valued at $41,117,000 after buying an additional 12,708 shares during the period. Finally, State Street Corp lifted its stake in shares of UNIVERSAL INSURANCE HOLDINGS INC by 4.6% in the second quarter. State Street Corp now owns 807,769 shares of the insurance provider’s stock valued at $20,353,000 after buying an additional 35,363 shares during the period. Institutional investors and hedge funds own 73.35% of the company’s stock.

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About UNIVERSAL INSURANCE HOLDINGS INC

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).

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