Mirae Asset Global Investments Co. Ltd. Invests $319,000 in Universal Insurance Holdings, Inc. (NYSE:UVE)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,507 shares of the insurance provider’s stock, valued at approximately $319,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UVE. Geode Capital Management LLC raised its position in shares of Universal Insurance by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after acquiring an additional 49,123 shares in the last quarter. CWA Asset Management Group LLC grew its stake in Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock worth $12,017,000 after purchasing an additional 285,338 shares during the period. Barclays PLC raised its holdings in Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock worth $1,528,000 after purchasing an additional 28,278 shares in the last quarter. HighTower Advisors LLC purchased a new position in Universal Insurance during the third quarter valued at $636,000. Finally, Jane Street Group LLC boosted its holdings in shares of Universal Insurance by 2,142.1% during the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after buying an additional 57,108 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Insider Activity at Universal Insurance

In other news, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total transaction of $515,750.00. Following the transaction, the director now directly owns 383,228 shares of the company’s stock, valued at $7,905,993.64. The trade was a 6.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 50,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the completion of the sale, the chairman now directly owns 985,320 shares of the company’s stock, valued at approximately $20,208,913.20. This trade represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is owned by company insiders.

Universal Insurance Price Performance

UVE opened at $20.35 on Friday. The company’s 50-day simple moving average is $20.20 and its two-hundred day simple moving average is $20.60. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $575.70 million, a P/E ratio of 8.27 and a beta of 0.91. Universal Insurance Holdings, Inc. has a 52-week low of $16.50 and a 52-week high of $23.39.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a $0.16 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 3.14%. This is a positive change from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s payout ratio is presently 26.02%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Universal Insurance from a “strong-buy” rating to a “buy” rating in a research report on Friday.

Universal Insurance Profile

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.