Nisa Investment Advisors LLC Boosts Stock Holdings in Universal Insurance Holdings, Inc. (NYSE:UVE)

Nisa Investment Advisors LLC lifted its stake in shares of Universal Insurance Holdings, Inc. (NYSE:UVE - Free Report) by 128,888.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,045 shares of the insurance provider's stock after buying an additional 58,000 shares during the quarter. Nisa Investment Advisors LLC owned about 0.21% of Universal Insurance worth $1,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can boosted its holdings in Universal Insurance by 283.0% in 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 in the last quarter. Marshall Wace LLP lifted its holdings in shares of Universal Insurance by 1.8% in the 2nd quarter. Marshall Wace LLP now owns 235,801 shares of the insurance provider's stock worth $4,424,000 after purchasing an additional 4,140 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in Universal Insurance by 22.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 71,159 shares of the insurance provider's stock valued at $1,335,000 after purchasing an additional 13,264 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Universal Insurance during the second quarter worth $498,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Universal Insurance in the second quarter valued at $398,000. Institutional investors own 66.61% of the company's stock.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon Springer sold 25,000 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the transaction, the director now owns 383,228 shares in the company, valued at $7,905,993.64. This represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,064 shares of company stock valued at $2,283,787 over the last three months. Company insiders own 17.50% of the company's stock.

Universal Insurance Stock Performance

Shares of UVE traded down $0.08 during trading hours on Tuesday, hitting $19.82. The company's stock had a trading volume of 113,294 shares, compared to its average volume of 119,953. The business has a 50 day simple moving average of $20.93 and a two-hundred day simple moving average of $20.58. Universal Insurance Holdings, Inc. has a 52-week low of $15.78 and a 52-week high of $23.39. 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 cap of $560.66 million, a price-to-earnings ratio of 8.06 and a beta of 0.93.

Universal Insurance Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were issued a dividend of $0.13 per share. The ex-dividend date was Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.62%. Universal Insurance's payout ratio is 26.02%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Universal Insurance from a "buy" rating to a "strong-buy" rating in a report on Monday.

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.