Man Group plc Increases Stock Position in Universal Insurance Holdings, Inc. (NYSE:UVE)

Man Group plc raised its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 31.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,313 shares of the insurance provider's stock after purchasing an additional 17,020 shares during the quarter. Man Group plc owned 0.25% of Universal Insurance worth $1,502,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of UVE. KLP Kapitalforvaltning AS bought a new stake in Universal Insurance during the 4th quarter valued at $103,000. Quantbot Technologies LP grew its stake in shares of Universal Insurance by 45,981.8% in the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider's stock worth $107,000 after acquiring an additional 5,058 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of Universal Insurance in the 4th quarter worth $121,000. Lazard Asset Management LLC grew its stake in shares of Universal Insurance by 56.7% in the 4th quarter. Lazard Asset Management LLC now owns 5,758 shares of the insurance provider's stock worth $121,000 after acquiring an additional 2,083 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of Universal Insurance in the 4th quarter worth $240,000. Institutional investors own 66.61% of the company's stock.

Universal Insurance Stock Up 0.8%

Shares of NYSE UVE traded up $0.21 during trading on Thursday, hitting $26.72. The stock had a trading volume of 13,763 shares, compared to its average volume of 189,105. Universal Insurance Holdings, Inc. has a 12 month low of $16.50 and a 12 month high of $26.88. 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 company has a market capitalization of $751.89 million, a PE ratio of 10.86 and a beta of 0.83. The firm has a fifty day moving average of $24.15 and a two-hundred day moving average of $22.05.

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

Universal Insurance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Friday, May 9th. Universal Insurance's payout ratio is 27.95%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Universal Insurance from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $22.08, for a total value of $441,600.00. Following the transaction, the chairman now owns 990,200 shares in the company, valued at approximately $21,863,616. This trade represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jon Springer sold 26,393 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $25.61, for a total transaction of $675,924.73. Following the completion of the transaction, the director now owns 331,835 shares in the company, valued at $8,498,294.35. This represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,393 shares of company stock valued at $2,085,925. 16.60% of the stock is currently owned by corporate insiders.

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.