Connor Clark & Lunn Investment Management Ltd. Raises Stock Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,267 shares of the insurance provider's stock after acquiring an additional 21,035 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.69% of Universal Insurance worth $4,112,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in UVE. Quarry LP raised its holdings in Universal Insurance by 55.6% in the third quarter. Quarry LP now owns 2,171 shares of the insurance provider's stock worth $48,000 after purchasing an additional 776 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Universal Insurance during the third quarter valued at approximately $202,000. The Manufacturers Life Insurance Company bought a new stake in shares of Universal Insurance in the 3rd quarter worth approximately $206,000. PDT Partners LLC purchased a new stake in shares of Universal Insurance in the 3rd quarter worth approximately $225,000. Finally, Victory Capital Management Inc. purchased a new position in Universal Insurance during the fourth quarter valued at $240,000. Institutional investors own 66.61% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Universal Insurance from a "strong-buy" rating to a "buy" rating in a research report on Tuesday.

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Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $20.51, for a total value of $1,025,500.00. Following the transaction, the chairman now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 90,000 shares of company stock valued at $1,908,700. Insiders own 17.50% of the company's stock.

Universal Insurance Stock Performance

Shares of Universal Insurance stock traded up $0.23 during trading on Thursday, hitting $21.73. 262,989 shares of the company's stock traded hands, compared to its average volume of 151,326. Universal Insurance Holdings, Inc. has a 1 year low of $16.50 and a 1 year high of $23.39. The business has a 50-day simple moving average of $20.35 and a 200-day simple moving average of $20.80. 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 has a market capitalization of $610.53 million, a P/E ratio of 8.83 and a beta of 0.84.

Universal Insurance (NYSE:UVE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.16. The company had revenue of $384.81 million for the quarter, compared to the consensus estimate of $349.91 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. As a group, analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current year.

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 7th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, March 7th. This is a boost from Universal Insurance's previous quarterly dividend of $0.13. Universal Insurance's dividend payout ratio is 32.16%.

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.