UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,055 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Universal Insurance Holdings, Inc. (NYSE:UVE) by 7.9% during the fourth quarter, Holdings Channel reports. The fund owned 46,959 shares of the insurance provider’s stock after selling 4,055 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Universal Insurance were worth $989,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. American Century Companies Inc. raised its stake in Universal Insurance by 10.4% during the 4th quarter. American Century Companies Inc. now owns 608,889 shares of the insurance provider’s stock worth $12,823,000 after buying an additional 57,424 shares during the period. Deutsche Bank AG raised its stake in Universal Insurance by 60.9% during the 4th quarter. Deutsche Bank AG now owns 21,162 shares of the insurance provider’s stock worth $446,000 after buying an additional 8,006 shares during the period. Man Group plc raised its stake in Universal Insurance by 31.3% during the 4th quarter. Man Group plc now owns 71,313 shares of the insurance provider’s stock worth $1,502,000 after buying an additional 17,020 shares during the period. Bank of America Corp DE raised its stake in Universal Insurance by 10.9% during the 4th quarter. Bank of America Corp DE now owns 103,344 shares of the insurance provider’s stock worth $2,176,000 after buying an additional 10,131 shares during the period. Finally, Rhumbline Advisers increased its holdings in Universal Insurance by 62.5% during the 4th quarter. Rhumbline Advisers now owns 61,935 shares of the insurance provider’s stock worth $1,304,000 after purchasing an additional 23,830 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Universal Insurance from a “buy” rating to a “strong-buy” rating in a report on Monday, April 28th.

Insider Activity

In other Universal Insurance news, Director Jon Springer sold 30,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $27.06, for a total value of $811,800.00. Following the completion of the transaction, the director now owns 301,835 shares of the company’s stock, valued at $8,167,655.10. This represents a 9.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.34, for a total value of $526,800.00. Following the completion of the transaction, the chairman now directly owns 951,667 shares of the company’s stock, valued at approximately $25,066,908.78. The trade was a 2.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 76,393 shares of company stock worth $2,014,525. 16.60% of the stock is currently owned by company insiders.

Universal Insurance Price Performance

Shares of NYSE UVE opened at $26.57 on Wednesday. The stock has a market capitalization of $747.87 million, a price-to-earnings ratio of 10.80 and a beta of 0.87. The business has a 50-day moving average of $24.90 and a 200-day moving average of $22.35. 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 fifty-two week low of $16.50 and a fifty-two week high of $28.49.

Universal Insurance (NYSE:UVE) last issued its earnings results on Thursday, April 24th. The insurance provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.12 by $0.32. The company had revenue of $394.87 million during the quarter, compared to the consensus estimate of $354.97 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. As a group, sell-side analysts predict that Universal Insurance Holdings, Inc. will post 1.66 earnings per share for the current fiscal year.

Universal Insurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, May 9th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.41%. Universal Insurance’s payout ratio is 27.95%.

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.