Universal Insurance Holdings Inc (NYSE:UVE) shares shot up 8.2% on Friday . The stock traded as high as $18.30 and last traded at $17.85. 3,413,422 shares changed hands during trading, an increase of 1,250% from the average session volume of 252,895 shares. The stock had previously closed at $16.50.

Several brokerages have weighed in on UVE. ValuEngine lowered shares of Universal Insurance Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 18th. BidaskClub lowered shares of Universal Insurance Holdings from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $29.00 price target on shares of Universal Insurance Holdings in a report on Friday, August 18th.

The company’s 50-day moving average is $22.49 and its 200-day moving average is $24.22. The firm has a market capitalization of $622.00 million, a price-to-earnings ratio of 6.32 and a beta of 1.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, September 12th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, September 11th. Universal Insurance Holdings’s dividend payout ratio is 19.93%.

Several hedge funds have recently made changes to their positions in UVE. BlackRock Inc. raised its stake in shares of Universal Insurance Holdings by 73,456.7% in the 1st 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 in the last quarter. FMR LLC raised its stake in shares of Universal Insurance Holdings by 464.1% in the 2nd quarter. FMR LLC now owns 255,258 shares of the insurance provider’s stock valued at $6,433,000 after buying an additional 210,008 shares in the last quarter. WBI Investments Inc. acquired a new position in shares of Universal Insurance Holdings in the 2nd quarter valued at $2,009,000. Teachers Advisors LLC raised its stake in shares of Universal Insurance Holdings by 13.3% in the 2nd quarter. Teachers Advisors LLC now owns 655,904 shares of the insurance provider’s stock valued at $16,529,000 after buying an additional 77,208 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Universal Insurance Holdings by 77.1% in the 1st quarter. AQR Capital Management LLC now owns 164,567 shares of the insurance provider’s stock valued at $4,032,000 after buying an additional 71,653 shares in the last quarter. 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).

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