Mackenzie Financial Corp Invests $594,000 in Universal Insurance Holdings, Inc. (NYSE:UVE)

Mackenzie Financial Corp bought a new position in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,200 shares of the insurance provider's stock, valued at approximately $594,000. Mackenzie Financial Corp owned 0.10% of Universal Insurance as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Donald Smith & CO. Inc. boosted its position in Universal Insurance by 11.3% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider's stock valued at $36,234,000 after purchasing an additional 174,843 shares during the last quarter. Vanguard Group Inc. boosted its position in Universal Insurance by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 1,674,545 shares of the insurance provider's stock valued at $35,266,000 after purchasing an additional 4,480 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Universal Insurance by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,496,224 shares of the insurance provider's stock valued at $31,510,000 after purchasing an additional 6,250 shares during the last quarter. American Century Companies Inc. boosted its position in Universal Insurance by 10.4% during the fourth quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider's stock valued at $12,823,000 after purchasing an additional 57,424 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Universal Insurance by 0.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 366,877 shares of the insurance provider's stock valued at $7,726,000 after purchasing an additional 2,181 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company's stock.

Universal Insurance Stock Up 0.3%

UVE traded up $0.07 during trading on Friday, reaching $27.50. 169,854 shares of the stock traded hands, compared to its average volume of 188,253. The stock has a market cap of $774.02 million, a price-to-earnings ratio of 11.18 and a beta of 0.87. Universal Insurance Holdings, Inc. has a fifty-two week low of $16.50 and a fifty-two week high of $28.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The stock's 50-day simple moving average is $24.79 and its two-hundred day simple moving average is $22.29.

Universal Insurance (NYSE:UVE - Get Free Report) last posted its earnings results on Thursday, April 24th. The insurance provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.32. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $394.87 million for the quarter, compared to analyst estimates of $354.97 million. As a group, equities research analysts expect that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, May 9th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.64 annualized dividend and a yield of 2.33%. Universal Insurance's dividend payout ratio (DPR) is currently 27.95%.

Analyst Ratings Changes

Separately, Wall Street Zen raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 28th.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $27.06, for a total transaction of $811,800.00. Following the transaction, the director now directly owns 301,835 shares in the company, valued at $8,167,655.10. This trade represents a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.34, for a total value of $526,800.00. Following the transaction, the chairman now owns 951,667 shares in the company, valued at approximately $25,066,908.78. This trade represents a 2.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,393 shares of company stock worth $2,014,525 over the last three months. Corporate insiders own 16.60% of the company's stock.

About Universal Insurance

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.