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

A number of equities analysts have commented on the stock. ValuEngine downgraded shares of Universal Insurance Holdings from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 18th. BidaskClub downgraded 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 objective on shares of Universal Insurance Holdings in a report on Friday, August 18th.

The firm has a market capitalization of $574.96 million, a PE ratio of 5.84 and a beta of 1.84. The company has a 50-day moving average price of $22.66 and a 200-day moving average price of $24.26.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 24th. Stockholders of record on Tuesday, September 12th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, September 11th. Universal Insurance Holdings’s dividend payout ratio is presently 19.93%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in UVE. Pinebridge Investments L.P. increased its position in shares of Universal Insurance Holdings by 0.7% during the second quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock valued at $108,000 after purchasing an additional 30 shares during the period. Victory Capital Management Inc. grew its position in Universal Insurance Holdings by 17.6% in the second quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock valued at $118,000 after acquiring an additional 703 shares during the period. LS Investment Advisors LLC grew its position in Universal Insurance Holdings by 332.6% in the first quarter. LS Investment Advisors LLC now owns 5,105 shares of the insurance provider’s stock valued at $125,000 after acquiring an additional 3,925 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Universal Insurance Holdings in the second quarter valued at $125,000. Finally, Envestnet Asset Management Inc. grew its position in Universal Insurance Holdings by 7.8% in the first quarter. Envestnet Asset Management Inc. now owns 5,159 shares of the insurance provider’s stock valued at $126,000 after acquiring an additional 372 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

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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