ArrowMark Colorado Holdings LLC Has $8.64 Million Stock Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

ArrowMark Colorado Holdings LLC trimmed its holdings in Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 390,000 shares of the insurance provider's stock after selling 25,000 shares during the period. ArrowMark Colorado Holdings LLC owned 1.38% of Universal Insurance worth $8,642,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in UVE. Vanguard Group Inc. boosted its holdings in Universal Insurance by 2.8% in the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider's stock worth $31,384,000 after purchasing an additional 41,425 shares during the period. American Century Companies Inc. boosted its stake in Universal Insurance by 44.5% during the 2nd quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider's stock valued at $8,814,000 after purchasing an additional 144,647 shares in the last quarter. Bank of Montreal Can grew its holdings in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider's stock worth $7,040,000 after acquiring an additional 276,700 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider's stock worth $7,698,000 after purchasing an additional 63,582 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Universal Insurance by 4.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 300,379 shares of the insurance provider's stock valued at $5,635,000 after acquiring an additional 13,856 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total transaction of $404,200.00. Following the transaction, the chairman now owns 1,062,262 shares of the company's stock, valued at $21,468,315.02. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 55,064 shares of company stock worth $1,191,937 over the last ninety days. 17.50% of the stock is currently owned by corporate insiders.

Universal Insurance Stock Performance

Shares of UVE traded up $0.08 on Tuesday, reaching $22.53. 28,076 shares of the stock traded hands, compared to its average volume of 186,014. Universal Insurance Holdings, Inc. has a 12 month low of $15.63 and a 12 month high of $23.39. The firm has a market cap of $637.37 million, a price-to-earnings ratio of 9.13 and a beta of 0.92. 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 moving average price is $20.93 and its 200-day moving average price is $20.13.

Universal Insurance (NYSE:UVE - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, topping analysts' consensus estimates of ($1.03) by $0.30. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The business had revenue of $387.55 million for the quarter, compared to analyst estimates of $341.98 million. During the same period in the prior year, the company earned ($0.16) EPS. Equities analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, December 6th. Universal Insurance's dividend payout ratio (DPR) is 26.02%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Universal Insurance from a "hold" rating to a "buy" rating in a research note on Sunday, November 10th.

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.