Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 1.89MM shares of Universal Insurance Holdings, Inc. (UVE). This represents 6.19% of the company.
In their previous filing dated February 10, 2022 they reported 2.98MM shares and 9.57% of the company, a decrease in shares of 36.67% and a decrease in total ownership of 3.38% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 10.02% Downside
As of February 8, 2023, the average one-year price target for Universal Insurance Holdings is $11.22. The forecasts range from a low of $11.11 to a high of $11.55. The average price target represents a decrease of 10.02% from its latest reported closing price of $12.47.
The projected annual revenue for Universal Insurance Holdings is $1,258MM, an increase of 6.16%. The projected annual EPS is $1.41.
What is the Fund Sentiment?
There are 368 funds or institutions reporting positions in Universal Insurance Holdings. This is a decrease of 5 owner(s) or 1.34% in the last quarter. Average portfolio weight of all funds dedicated to UVE is 0.05%, a decrease of 18.62%. Total shares owned by institutions decreased in the last three months by 1.74% to 23,571K shares. The put/call ratio of UVE is 2.30, indicating a bearish outlook.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,998K shares representing 6.55% ownership of the company. In it's prior filing, the firm reported owning 1,939K shares, representing an increase of 2.99%. The firm decreased its portfolio allocation in UVE by 20.91% over the last quarter.
Invesco holds 1,665K shares representing 5.46% ownership of the company. In it's prior filing, the firm reported owning 1,550K shares, representing an increase of 6.92%. The firm decreased its portfolio allocation in UVE by 13.73% over the last quarter.
Lsv Asset Management holds 1,189K shares representing 3.90% ownership of the company. In it's prior filing, the firm reported owning 1,261K shares, representing a decrease of 6.01%. The firm decreased its portfolio allocation in UVE by 4.80% over the last quarter.
Donald Smith & holds 1,108K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 1,007K shares, representing an increase of 9.10%. The firm decreased its portfolio allocation in UVE by 17.65% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 827K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 799K shares, representing an increase of 3.38%. The firm decreased its portfolio allocation in UVE by 18.44% over the last quarter.
Universal Insurance Holdings Declares $0.16 Dividend
On July 19, 2022 the company declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Shareholders of record as of August 1, 2022 received the payment on August 9, 2022. Previously, the company paid $0.16 per share.
At the current share price of $12.47 / share, the stock's dividend yield is 5.13%. Looking back five years and taking a sample every week, the average dividend yield has been 4.17%, the lowest has been 1.61%, and the highest has been 8.89%. The standard deviation of yields is 1.78 (n=237).
The current dividend yield is 0.54 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Universal Insurance Holdings Background Information
(This description is provided by the company.)
Universal Insurance Holdings (UVE) is a holding company offering property and casualty insurance and value-added insurance services. The company develops, markets, and writes insurance products for consumers predominantly in the personal residential homeowners lines of business and performs substantially all other insurance-related services for its primary insurance entities, including risk management, claims management and distribution. The company sells insurance products through both its appointed independent agents and through its direct online distribution channels in the United States across 19 states (primarily Florida).
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
