Universal Insurance (NYSE:UVE) Upgraded at StockNews.com

Universal Insurance (NYSE:UVE) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Universal Insurance Trading Down 4.3 %

Shares of NYSE:UVE opened at $19.24 on Friday. The firm has a market capitalization of $547.96 million, a price-to-earnings ratio of 6.80 and a beta of 0.89. The business’s 50 day moving average price is $20.64 and its 200-day moving average price is $19.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.54 and a quick ratio of 0.54. Universal Insurance has a 1 year low of $13.85 and a 1 year high of $23.27.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The company had revenue of $380.21 million during the quarter, compared to analyst estimates of $340.09 million. During the same period in the previous year, the business earned $0.87 EPS. On average, equities research analysts forecast that Universal Insurance will post 1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the chairman now owns 1,122,262 shares of the company’s stock, valued at approximately $22,445,240. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total transaction of $722,101.69. Following the transaction, the director now owns 473,899 shares in the company, valued at $9,729,146.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the transaction, the chairman now directly owns 1,122,262 shares in the company, valued at approximately $22,445,240. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,173 shares of company stock valued at $1,571,502 in the last 90 days. 17.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of UVE. Quarry LP lifted its stake in shares of Universal Insurance by 424.4% in the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,129 shares during the last quarter. CWM LLC raised its holdings in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after buying an additional 723 shares during the period. Occidental Asset Management LLC purchased a new position in Universal Insurance during the second quarter worth about $196,000. SG Americas Securities LLC lifted its holdings in shares of Universal Insurance by 17.4% in the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock worth $232,000 after acquiring an additional 1,833 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new position in shares of Universal Insurance during the 1st quarter worth approximately $326,000. 66.61% of the stock is currently owned by institutional investors and hedge funds.

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.