Universal Insurance Holdings Inc (NYSE:UVE)’s share price fell 3.8% during mid-day trading on Wednesday . The stock traded as low as $17.50 and last traded at $19.10. 753,657 shares changed hands during trading, an increase of 277% from the average session volume of 199,784 shares. The stock had previously closed at $18.40.

Several brokerages recently issued reports on UVE. Keefe, Bruyette & Woods restated a “buy” rating and set a $29.00 price target on shares of Universal Insurance Holdings in a research note on Friday, August 18th. BidaskClub lowered Universal Insurance Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, ValuEngine lowered Universal Insurance Holdings from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 18th.

The stock’s 50-day moving average is $23.02 and its 200 day moving average is $24.36. The stock has a market cap of $649.88 million, a PE ratio of 6.60 and a beta of 1.84.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Shareholders of record on Tuesday, September 12th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, September 11th. This represents a $0.56 annualized dividend and a yield of 3.00%. Universal Insurance Holdings’s dividend payout ratio (DPR) is presently 19.93%.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Universal Insurance Holdings by 73,456.7% during the first quarter. BlackRock Inc. now owns 4,062,534 shares of the insurance provider’s stock worth $99,533,000 after acquiring an additional 4,057,011 shares during the last quarter. Vanguard Group Inc. lifted its position in Universal Insurance Holdings by 1.5% during the second quarter. Vanguard Group Inc. now owns 3,730,592 shares of the insurance provider’s stock worth $94,011,000 after acquiring an additional 55,438 shares during the last quarter. LSV Asset Management lifted its position in Universal Insurance Holdings by 4.3% during the second quarter. LSV Asset Management now owns 1,662,159 shares of the insurance provider’s stock worth $41,886,000 after acquiring an additional 68,231 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Universal Insurance Holdings by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,631,586 shares of the insurance provider’s stock worth $41,117,000 after acquiring an additional 12,708 shares during the last quarter. Finally, State Street Corp lifted its position in Universal Insurance Holdings by 4.6% during the second quarter. State Street Corp now owns 807,769 shares of the insurance provider’s stock worth $20,353,000 after acquiring an additional 35,363 shares during the last quarter. Hedge funds and other institutional investors own 73.35% of the company’s stock.

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Universal Insurance Holdings Company 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).