In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Universal Insurance Holdings Inc. (NYSE:UVE) reported that Downes Sean P has picked up 1,815,363 of common stock as of 2017-04-26.
The acquisition brings the aggregate amount owned by Downes Sean P to a total of 1,815,363 representing less than 5.2% stake in the company.
For those not familiar with the company, 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). UPCIC writes homeowners insurance policies in states, including Alabama, Delaware, Florida, Georgia, Hawaii, Indiana, Maryland, Massachusetts, Michigan, Minnesota, North Carolina, Pennsylvania, South Carolina and Virginia. APPCIC writes homeowners and commercial residential insurance policies in Florida. The Company has developed a suite of applications that provide underwriting, policy and claim administration services, including billing, policy maintenance, inspections, refunds, commissions and data analysis.
A glance at Universal Insurance Holdings Inc. (NYSE:UVE)’s key stats reveals a current market capitalization of 934.25 Million based on 35.07 Million shares outstanding and a price at last close of $26.05 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-06-13, Downes picked up 5,300 at a purchase price of $18.61. This brings their total holding to 1,312,281 as of the date of the filing.
On the sell side, the most recent transaction saw Pietrangelo unload 17,000 shares at a sale price of $25.65. This brings their total holding to 44,248.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Universal Insurance Holdings Inc. (NYSE:UVE) as things move forward to see if its progress aligns with these transactions.
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