We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Universal Insurance Holdings Inc | NYSE:UVE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.25 | 1.25% | 20.30 | 20.33 | 20.18 | 20.18 | 39,052 | 18:50:54 |
|
|
|
|
|
||
|
|
|
Table of Contents
|
Page
|
|
|
|
|
|
||
|
|
|
(a)
|
Financial Statements
|
|
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
(b)
|
Supplemental Schedule
|
|
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
Exhibits:
|
|
|
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
|
|
|||||||
|
||||||||
|
|
|
|
|
||||
|
|
December 31,
2019 |
|
December 31,
2018 |
||||
ASSETS:
|
|
|
|
|
||||
Participant directed investments at fair value:
|
|
|
|
|
||||
Mutual funds
|
|
$
|
29,969,783
|
|
|
$
|
21,098,244
|
|
Universal Insurance Holdings Common Stock Fund
|
|
534,029
|
|
|
220,500
|
|
||
Self-directed brokerage accounts
|
|
904,352
|
|
|
749,917
|
|
||
Total participant-directed investments
|
|
31,408,164
|
|
|
22,068,661
|
|
||
|
|
|
|
|
||||
Contributions receivable:
|
|
|
|
|
||||
Participants
|
|
9,200
|
|
|
—
|
|
||
Employer
|
|
5,450
|
|
|
—
|
|
||
Total contributions receivables
|
|
14,650
|
|
|
—
|
|
||
|
|
|
|
|
||||
Notes receivable from participants
|
|
1,644,881
|
|
|
1,206,684
|
|
||
Total assets
|
|
33,067,695
|
|
|
23,275,345
|
|
||
|
|
|
|
|
||||
LIABILITIES - Excess contributions payable
|
|
5,491
|
|
|
6,723
|
|
||
|
|
|
|
|
||||
NET ASSETS AVAILABLE FOR BENEFITS
|
|
$
|
33,062,204
|
|
|
$
|
23,268,622
|
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
|
|
|
|
||
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
|
|||||
|
|
|
|
||
|
|
Year Ended
|
|
||
|
|
December 31,
2019 |
|
||
ADDITIONS TO NET ASSETS:
|
|
|
|
||
Contributions:
|
|
|
|
||
Participants
|
|
$
|
3,351,981
|
|
|
Employer
|
|
2,192,761
|
|
|
|
Rollovers
|
|
84,748
|
|
|
|
Total contributions
|
|
5,629,490
|
|
|
|
|
|
|
|
||
Investment income:
|
|
|
|
||
Interest and dividends
|
|
1,018,252
|
|
|
|
Net realized and unrealized gain on investments
|
|
3,826,675
|
|
|
|
Total investment income
|
|
4,844,927
|
|
|
|
|
|
|
|
||
Interest income on notes receivable from participants
|
|
76,838
|
|
|
|
Total additions
|
|
10,551,255
|
|
|
|
|
|
|
|
||
DEDUCTIONS FROM NET ASSETS:
|
|
|
|
||
Benefits paid directly to participants or beneficiaries
|
|
745,094
|
|
|
|
Administrative expenses
|
|
12,579
|
|
|
|
Total deductions
|
|
757,673
|
|
|
|
|
|
|
|
||
NET INCREASE
|
|
9,793,582
|
|
|
|
|
|
|
|
||
NET ASSETS AVAILABLE FOR BENEFITS:
|
|
|
|
||
Beginning of year
|
|
23,268,622
|
|
|
|
|
|
|
|
||
End of year
|
|
$
|
33,062,204
|
|
|
Note 1 -
|
DESCRIPTION OF THE PLAN
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
|
|
|
|
NOTES TO FINANCIAL STATEMENTS
|
|
|
DECEMBER 31, 2019 AND 2018
|
Years of Service
|
Vested Percentage
|
|
2
|
20%
|
|
3
|
40%
|
|
4
|
60%
|
|
5
|
80%
|
|
6
|
100%
|
Note 2 -
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
|
|
|
|
NOTES TO FINANCIAL STATEMENTS
|
|
|
DECEMBER 31, 2019 AND 2018
|
Note 3 -
|
FAIR VALUE MEASUREMENTS
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
|
|
|
|
NOTES TO FINANCIAL STATEMENTS
|
|
|
DECEMBER 31, 2019 AND 2018
|
|
|
Investments (at Fair Value)
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Mutual funds
|
|
$
|
29,969,783
|
|
|
$
|
29,969,783
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Universal Insurance Holdings Common Stock Fund
|
|
534,029
|
|
|
534,029
|
|
|
—
|
|
|
—
|
|
||||
Self-directed brokerage accounts (1)
|
|
904,352
|
|
|
904,352
|
|
|
—
|
|
|
—
|
|
||||
Total
|
|
$
|
31,408,164
|
|
|
$
|
31,408,164
|
|
|
$
|
—
|
|
|
$
|
—
|
|
(1)
|
Self-directed brokerage accounts consist of non interest-bearing cash of $6,429, interest-bearing cash of $202,742, corporate common stock of $695,181 of which includes $327,771 of UVE Common Stock at December 31, 2019.
|
|
|
Investments (at Fair Value)
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
Mutual funds
|
|
$
|
21,098,244
|
|
|
$
|
21,098,244
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Universal Insurance Holdings Common Stock Fund
|
|
220,500
|
|
|
220,500
|
|
|
—
|
|
|
—
|
|
||||
Self-directed brokerage accounts (2)
|
|
749,917
|
|
|
749,917
|
|
|
—
|
|
|
—
|
|
||||
Total
|
|
$
|
22,068,661
|
|
|
$
|
22,068,661
|
|
|
$
|
—
|
|
|
$
|
—
|
|
(2)
|
Self-directed brokerage accounts consist of interest-bearing cash of $40,882, corporate common stock of $708,806 of which includes $345,717 of UVE Common Stock, and corporate common stock warrants of $229 at December 31, 2018.
|
Note 4 -
|
TAX STATUS
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
|
|
|
|
NOTES TO FINANCIAL STATEMENTS
|
|
|
DECEMBER 31, 2019 AND 2018
|
Note 5 -
|
RECONCILIATION TO FORM 5500
|
|
2019
|
|
2018
|
||||||
Net assets available for benefits per the
financial statements
|
$
|
33,062,204
|
|
|
$
|
23,268,622
|
|
||
Excess contributions payable
|
5,491
|
|
|
6,723
|
|
||||
Net assets per Form 5500
|
$
|
33,067,695
|
|
|
$
|
23,275,345
|
|
||
|
|
|
|
|
2019
|
||
Net increase per the financial statements
|
$
|
9,793,582
|
|
Change in corrective distributions
|
(1,232)
|
|
|
Net income per Form 5500
|
$
|
9,792,350
|
|
|
|
Note 6 -
|
RELATED PARTIES
|
|
|
2019
|
|
2018
|
||
Shares owned
|
|
18,528
|
|
|
5,548
|
|
Shares purchased
|
|
13,549
|
|
|
6,419
|
|
Shares sold
|
|
569
|
|
|
871
|
|
|
|
|
|
|
Universal Property & Casualty 401(k)
|
|
|
Profit Sharing Plan
|
|
|
|
|
|
|
NOTES TO FINANCIAL STATEMENTS
|
|
|
DECEMBER 31, 2019 AND 2018
|
Note 7 -
|
DELINQUENT PARTICIPANT CONTRIBUTIONS
|
UNIVERSAL PROPERTY & CASUALTY 401(K)
|
|
|
PROFIT SHARING PLAN
|
|
|
EIN: 65-0789077, PLAN NO. 001
|
|
|
|
|
|
SCHEDULE OF ASSETS HELD AT END OF YEAR
|
|
|
FORM 5500, SCHEDULE H, PART IV, LINE 4(i)
|
|
|
DECEMBER 31, 2019
|
|
|
(a)
|
(b)
|
|
(c)
|
|
(d)
|
|
(e)
|
||
|
Identity of Issuer
|
|
Description of Investment
|
|
Cost **
|
|
Current Value
|
||
|
|
|
Mutual funds:
|
|
|
|
|
||
|
Invesco
|
|
Invesco Income Fund - Investor Class
|
|
|
|
$
|
157,608
|
|
|
American Funds
|
|
American Funds Target Date Retirement Fund 2045 Class - R3
|
|
|
|
4,115,734
|
|
|
|
|
|
American Funds Target Date Retirement Fund 2035 Class - R3
|
|
|
|
6,014,117
|
|
|
|
|
|
American Funds Target Date Retirement Fund 2025 Class - R3
|
|
|
|
2,238,061
|
|
|
|
|
|
American Funds Target Date Retirement Fund 2015 Class - R3
|
|
|
|
143,644
|
|
|
|
|
|
American Funds U.S. Government Money Market Fund - Class R3
|
|
|
|
1,474,888
|
|
|
|
|
|
American Funds Capital World Bond - Class R3
|
|
|
|
207,114
|
|
|
|
|
|
American Funds Capital World Growth and Income Fund - Class R3
|
|
|
|
916,910
|
|
|
|
|
|
American Funds EuroPacific Growth Fund - Class R3
|
|
|
|
789,233
|
|
|
|
|
|
American Funds Fundamental lnvestors - Class R3
|
|
|
|
730,266
|
|
|
|
|
|
American Funds The Growth Fund of America - Class R3
|
|
|
|
1,215,427
|
|
|
|
|
|
American Funds Investment Company of America Fund - Class R3
|
|
|
|
433,411
|
|
|
|
|
|
American Funds New Perspective Fund - Class R3
|
|
|
|
950,301
|
|
|
|
|
|
American Funds The Bond Fund of America - Class R3
|
|
|
|
234,449
|
|
|
|
|
|
American Funds The Income Fund of America - Class R3
|
|
|
|
2,112,610
|
|
|
|
MFS
|
|
MFS Utilities Fund - Class R3
|
|
|
|
556,854
|
|
|
|
|
|
MFS Total Return - Class R3
|
|
|
|
471,188
|
|
|
|
Vanguard
|
|
Vanguard Real Estate Index Fund - Admiral
|
|
|
|
564,302
|
|
|
|
|
|
Vanguard 500 Index Fund - Admiral
|
|
|
|
3,302,572
|
|
|
|
|
|
Vanguard LifeStrategy Moderate Growth Fund
|
|
|
|
537,421
|
|
|
|
|
|
Vanguard Small Cap Value Index Fund - Admiral
|
|
|
|
668,039
|
|
|
|
|
|
Vanguard Global Capital Cycles Fund - Investor Class
|
|
|
|
258,006
|
|
|
|
|
|
Vanguard LifeStrategy Conservative Growth Fund - Investor Class
|
|
|
|
394,200
|
|
|
|
|
|
Vanguard Emerging Markets Stock Index Fund - Admiral
|
|
|
|
442,229
|
|
|
|
|
|
Vanguard LifeStrategy Growth Fund
|
|
|
|
761,465
|
|
|
|
|
|
Vanguard Energy Fund - Investor Class
|
|
|
|
279,734
|
|
|
|
|
|
|
|
|
|
|
||
*
|
TD Ameritrade
|
|
Self-Directed Brokerage Account - Brokerage Fund Options
|
|
|
|
904,352
|
|
|
|
|
|
|
|
|
|
|
||
*
|
Universal Insurance Holdings
|
|
Common Stock Fund
|
|
|
|
534,029
|
|
|
|
|
|
|
|
|
|
|
||
*
|
Participants
|
|
Notes receivable from participants - Interest rates varying from 4.25 to 6.50 percent
|
|
_
|
|
1,644,881
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
Total
|
|
|
|
$
|
33,053,045
|
|
|
|
|
|
|
|
||||
*
|
Investment is with a party-in-interest to the Universal Property & Casualty 401(k) Profit Sharing Plan.
|
|
|
||||||
**
|
Historical cost information for participant-direct accounts are not required.
|
|
|
UNIVERSAL PROPERTY & CASUALTY 401(K)
|
|
|
PROFIT SHARING PLAN AND TRUST
|
|
|
EIN: 65-0789077, PLAN NO. 001
|
|
|
|
|
|
SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
|
|
|
FOR THE YEAR ENDED DECEMBER 31, 2019
|
|
|
FORM 5500, SCHEDULE H, PART IV, LINE 4(a)
|
|
|
Participant Contributions
Transferred Late to Plan
|
|
Total that Constitute Non-exempt Prohibited Transactions
|
|
|
|||||||||||||
|
|
|
|
|
|
|
|
Total Fully Corrected Under Voluntary Fiduciary Correction Program (VFCP) and Prohibited Transaction Exemption 2002-51
|
|||||||||
Check here if Late Participant Loan Repayments are included:
|
|
Contributions Not Corrected
|
|
Contributions Not Corrected Outside VFCP
|
|
Contributions Pending Correction in VFCP
|
|
||||||||||
—
|
|
|
$
|
—
|
|
|
$
|
2,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
Universal Property & Casualty 401(k) Profit Sharing Plan
|
|
|
|
|
|
|
|
Date: June 29, 2020
|
By:
|
/s/ Frank C. Wilcox
|
|
|
Frank C. Wilcox, Chief Financial Officer
|
|
|
UNIVERSAL INSURANCE HOLDINGS, INC.
|
1 Year Universal Insurance Chart |
1 Month Universal Insurance Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions