UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 3,081 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,014 shares of the insurance provider’s stock after selling 3,081 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.18% of Universal Insurance worth $1,130,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Cornercap Investment Counsel Inc. boosted its position in Universal Insurance by 90.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 56,502 shares of the insurance provider’s stock valued at $1,060,000 after buying an additional 26,873 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after acquiring an additional 63,582 shares during the last quarter. Highland Capital Management LLC increased its position in shares of Universal Insurance by 135.1% during the second quarter. Highland Capital Management LLC now owns 76,069 shares of the insurance provider’s stock worth $1,427,000 after buying an additional 43,718 shares during the period. Deerfield Management Company L.P. Series C bought a new stake in shares of Universal Insurance during the 2nd quarter valued at about $783,000. Finally, Essex Investment Management Co. LLC grew its position in shares of Universal Insurance by 64.6% during the 3rd quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock worth $4,468,000 after buying an additional 79,138 shares during the period. 66.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 15,064 shares of Universal Insurance stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $22.46, for a total value of $338,337.44. Following the completion of the sale, the chairman now owns 1,047,198 shares of the company’s stock, valued at approximately $23,520,067.08. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.50% of the stock is owned by company insiders.

Universal Insurance Stock Down 2.4 %

Shares of NYSE UVE opened at $20.62 on Thursday. The stock has a market capitalization of $583.26 million, a P/E ratio of 8.38 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. Universal Insurance Holdings, Inc. has a 1 year low of $15.78 and a 1 year high of $23.39. The company has a 50-day moving average price of $21.18 and a 200-day moving average price of $20.29.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. The business had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same period in the prior year, the firm posted ($0.16) EPS. On average, equities research analysts forecast that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, December 6th. Universal Insurance’s dividend payout ratio is 26.02%.

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.