Universal Insurance Holdings, Inc. (UVE) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 42.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,889 shares of the insurance provider’s stock after selling 13,000 shares during the period. Neuberger Berman Group LLC owned approximately 0.05% of Universal Insurance worth $411,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in UVE. Pinebridge Investments L.P. boosted its position in Universal Insurance by 0.7% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,297 shares of the insurance provider’s stock worth $108,000 after purchasing an additional 30 shares during the period. Quantbot Technologies LP purchased a new stake in Universal Insurance during the 3rd quarter worth $100,000. Victory Capital Management Inc. boosted its position in Universal Insurance by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,687 shares of the insurance provider’s stock worth $118,000 after purchasing an additional 703 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Universal Insurance during the 2nd quarter worth $125,000. Finally, Numeric Investors LLC purchased a new stake in Universal Insurance during the 2nd quarter worth $242,000. Institutional investors and hedge funds own 77.97% of the company’s stock.

Shares of Universal Insurance Holdings, Inc. (NYSE:UVE) opened at $27.10 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.03. Universal Insurance Holdings, Inc. has a 12-month low of $15.07 and a 12-month high of $29.20. The firm has a market cap of $929.97, a price-to-earnings ratio of 11.58 and a beta of 1.88.

Universal Insurance declared that its board has authorized a share repurchase plan on Wednesday, November 8th that permits the company to repurchase $20.00 million in shares. This repurchase authorization permits the insurance provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Separately, ValuEngine raised shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 6th.

In other Universal Insurance news, Director Michael Pietrangelo sold 9,969 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $26.27, for a total value of $261,885.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

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Universal Insurance 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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Institutional Ownership by Quarter for Universal Insurance (NYSE:UVE)

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