Universal Insurance Holdings, Inc. (UVE) on Focus After Forming Wedge Up Pattern

March 16, 2018 - By Stephen Andrade

Investors sentiment increased to 1.41 in Q3 2017. Its up 0.20, from 1.21 in 2017Q2. It improved, as 21 investors sold Universal Insurance Holdings, Inc. shares while 38 reduced holdings. 25 funds opened positions while 58 raised stakes. 26.48 million shares or 5.88% more from 25.01 million shares in 2017Q2 were reported.
One Natl Association invested 0.04% in Universal Insurance Holdings, Inc. (NYSE:UVE). State Street Corporation has 789,711 shares. Sg Americas Limited Company invested 0% in Universal Insurance Holdings, Inc. (NYSE:UVE). Ameritas Inv Partners Inc has 0% invested in Universal Insurance Holdings, Inc. (NYSE:UVE). Illinois-based Northern has invested 0% in Universal Insurance Holdings, Inc. (NYSE:UVE). Arrowstreet Cap Partnership owns 41,022 shares or 0% of their US portfolio. Bridgeway Mgmt owns 168,111 shares. Swiss Bancorporation reported 0% stake. Ubs Asset Mngmt Americas Incorporated reported 11,100 shares or 0% of all its holdings. 828,787 were accumulated by Cap Returns Ltd Com. Balyasny Asset Management accumulated 69,257 shares or 0.01% of the stock. State Teachers Retirement Sys invested in 50,258 shares. Art Advsrs Ltd Com reported 17,300 shares stake. Voya Invest Mngmt Lc stated it has 70,764 shares. Jpmorgan Chase, a New York-based fund reported 377,977 shares.

Since February 23, 2018, it had 0 buys, and 1 sale for $512,787 activity.

The stock of Universal Insurance Holdings, Inc. (UVE) formed an up wedge with $33.92 target or 5.00 % above today’s $32.30 share price. The 6 months wedge indicates low risk for the $1.13 billion company. If the $33.92 price target is reached, the company will be worth $56.30 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

It closed at $32.3 lastly. It is up 29.83% since March 16, 2017 and is uptrending. It has outperformed by 13.13% the S&P500.

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