Legato Capital Management LLC Sells 15,865 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

Legato Capital Management LLC reduced its position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,291 shares of the insurance provider's stock after selling 15,865 shares during the period. Legato Capital Management LLC owned approximately 0.19% of Universal Insurance worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Universal Insurance during the fourth quarter valued at approximately $319,000. Rockwood Wealth Management LLC raised its position in Universal Insurance by 48.4% during the fourth quarter. Rockwood Wealth Management LLC now owns 16,373 shares of the insurance provider's stock valued at $337,000 after purchasing an additional 5,337 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Universal Insurance by 128,888.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider's stock worth $1,222,000 after buying an additional 58,000 shares in the last quarter. CWA Asset Management Group LLC increased its holdings in shares of Universal Insurance by 100.0% during the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock worth $12,017,000 after buying an additional 285,338 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Universal Insurance by 35.7% during the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock worth $3,263,000 after buying an additional 38,767 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Price Performance

Shares of NYSE:UVE traded up $0.14 during trading on Friday, hitting $20.46. 116,397 shares of the company were exchanged, compared to its average volume of 111,848. The business's 50 day moving average is $20.17 and its 200-day moving average is $20.61. The company has a market capitalization of $578.84 million, a P/E ratio of 8.32 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance Holdings, Inc. has a 1-year low of $16.50 and a 1-year high of $23.39.

Universal Insurance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.13%. This is an increase from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 7th. Universal Insurance's dividend payout ratio is presently 26.02%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Universal Insurance from a "strong-buy" rating to a "buy" rating in a report on Friday.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 50,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the sale, the chairman now directly owns 985,320 shares in the company, valued at $20,208,913.20. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jon Springer sold 25,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the sale, the director now owns 383,228 shares of the company's stock, valued at $7,905,993.64. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by company 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.