StockNews.com Downgrades Universal Insurance (NYSE:UVE) to Hold

Universal Insurance (NYSE:UVE) was downgraded by StockNews.com from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday.

Universal Insurance Trading Up 1.1 %

NYSE:UVE opened at $20.16 on Friday. The firm has a market capitalization of $574.16 million, a P/E ratio of 8.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.54. Universal Insurance has a one year low of $15.63 and a one year high of $23.27. The company’s 50-day simple moving average is $20.59 and its 200 day simple moving average is $19.81.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($1.03) by $0.30. The company had revenue of $387.55 million for the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same quarter in the prior year, the business posted ($0.16) EPS. As a group, analysts forecast that Universal Insurance will post 1.66 EPS for the current fiscal year.

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the transaction, the chairman now directly owns 1,082,262 shares of the company’s stock, valued at approximately $24,318,427.14. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $22.47, for a total value of $449,400.00. Following the completion of the transaction, the chairman now owns 1,082,262 shares of the company’s stock, valued at approximately $24,318,427.14. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jon Springer sold 35,173 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $20.53, for a total transaction of $722,101.69. Following the sale, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,173 shares of company stock valued at $1,575,702. 17.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors and hedge funds have recently modified their holdings of UVE. Allspring Global Investments Holdings LLC grew its position in Universal Insurance by 11,666.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 58,713 shares of the insurance provider’s stock valued at $1,193,000 after buying an additional 58,214 shares during the period. Principal Financial Group Inc. raised its holdings in Universal Insurance by 109.6% in the 1st quarter. Principal Financial Group Inc. now owns 22,484 shares of the insurance provider’s stock worth $457,000 after purchasing an additional 11,758 shares during the period. BNP Paribas Financial Markets lifted its position in Universal Insurance by 31.7% during the first quarter. BNP Paribas Financial Markets now owns 19,875 shares of the insurance provider’s stock valued at $404,000 after purchasing an additional 4,781 shares in the last quarter. LSV Asset Management grew its holdings in Universal Insurance by 6.8% during the first quarter. LSV Asset Management now owns 313,902 shares of the insurance provider’s stock valued at $6,378,000 after purchasing an additional 19,900 shares during the period. Finally, Empowered Funds LLC raised its stake in shares of Universal Insurance by 8.2% in the first quarter. Empowered Funds LLC now owns 164,056 shares of the insurance provider’s stock worth $3,334,000 after buying an additional 12,392 shares during the period. 66.61% of the stock is currently owned by hedge funds and other institutional investors.

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.