Mirae Asset Global Investments Co. Ltd. Invests $319,000 in Universal Insurance Holdings, Inc. (NYSE:UVE)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,507 shares of the insurance provider's stock, valued at approximately $319,000. Mirae Asset Global Investments Co. Ltd. owned 0.05% of Universal Insurance at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rockwood Wealth Management LLC grew its position in shares of Universal Insurance by 48.4% in 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 during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Universal Insurance by 128,888.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 58,045 shares of the insurance provider's stock valued at $1,222,000 after purchasing an additional 58,000 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider's stock valued at $12,017,000 after purchasing an additional 285,338 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Universal Insurance by 35.7% in the third quarter. JPMorgan Chase & Co. now owns 147,249 shares of the insurance provider's stock valued at $3,263,000 after purchasing an additional 38,767 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Universal Insurance by 69.5% in the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider's stock valued at $1,528,000 after purchasing an additional 28,278 shares during the last quarter. 66.61% of the stock is currently owned by institutional investors and hedge funds.

Universal Insurance Trading Up 0.7 %

Shares of UVE traded up $0.14 on Monday, hitting $20.46. 116,397 shares of the stock traded hands, compared to its average volume of 111,848. 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 firm has a market capitalization of $578.84 million, a P/E ratio of 8.32 and a beta of 0.91. The stock's 50 day moving average is $20.14 and its two-hundred day moving average is $20.62. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, March 7th will be paid a dividend of $0.16 per share. This is an increase from Universal Insurance's previous quarterly dividend of $0.13. The ex-dividend date is Friday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 3.13%. Universal Insurance's dividend payout ratio is presently 26.02%.

Analyst Upgrades and Downgrades

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

Insider Activity at Universal Insurance

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

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.