Mackenzie Financial Corp Purchases New Stake in Universal Insurance Holdings, Inc. (NYSE:UVE)

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

A number of other hedge funds have also bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Universal Insurance during the fourth quarter worth $103,000. Quantbot Technologies LP grew its position in shares of Universal Insurance by 45,981.8% during the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock valued at $107,000 after buying an additional 5,058 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Universal Insurance during the fourth quarter worth about $118,000. Aquatic Capital Management LLC bought a new position in Universal Insurance in the fourth quarter worth about $121,000. Finally, Lazard Asset Management LLC boosted its stake in Universal Insurance by 56.7% in the fourth quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock valued at $121,000 after acquiring an additional 2,083 shares during the period. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.34, for a total transaction of $526,800.00. Following the completion of the sale, the chairman now directly owns 951,667 shares of the company's stock, valued at approximately $25,066,908.78. This represents a 2.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Springer sold 30,000 shares of Universal Insurance stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $27.06, for a total transaction of $811,800.00. Following the completion of the transaction, the director now directly owns 301,835 shares in the company, valued at approximately $8,167,655.10. This trade represents a 9.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,393 shares of company stock valued at $2,014,525 over the last 90 days. 16.60% of the stock is currently owned by company insiders.

Universal Insurance Stock Performance

UVE stock traded down $0.07 during mid-day trading on Thursday, reaching $27.49. The company had a trading volume of 91,369 shares, compared to its average volume of 188,017. Universal Insurance Holdings, Inc. has a one year low of $16.50 and a one year high of $28.49. The stock has a market capitalization of $773.82 million, a P/E ratio of 11.17 and a beta of 0.83. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock's 50-day simple moving average is $24.64 and its two-hundred day simple moving average is $22.22.

Universal Insurance (NYSE:UVE - Get Free Report) last announced 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 firm had revenue of $394.87 million for the quarter, compared to the consensus estimate of $354.97 million. Research analysts anticipate that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Universal Insurance Company 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.