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

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a research report sent to investors on Monday morning.

Universal Insurance Stock Performance

NYSE:UVE opened at $22.41 on Monday. The firm’s 50-day moving average is $20.05 and its 200-day moving average is $20.69. The company has a market cap of $633.89 million, a price-to-earnings ratio of 9.11 and a beta of 0.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 0.51. Universal Insurance has a 52-week low of $16.50 and a 52-week high of $23.39.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings results on Tuesday, February 25th. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.16. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The firm had revenue of $384.81 million for the quarter, compared to analyst estimates of $349.91 million. Equities research analysts anticipate that Universal Insurance will post 1.66 earnings per share for the current year.

Universal Insurance Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.86%. This is an increase from Universal Insurance’s previous quarterly dividend of $0.13. Universal Insurance’s payout ratio is currently 26.02%.

Insider Buying and Selling at Universal Insurance

In related news, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the sale, the chairman now owns 985,320 shares of the company’s stock, valued at $20,208,913.20. The trade was a 4.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jon Springer sold 25,000 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $20.63, for a total value of $515,750.00. Following the transaction, the director now owns 383,228 shares of the company’s stock, 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 own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the company. CWA Asset Management Group LLC lifted its holdings in Universal Insurance by 100.0% during the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after purchasing an additional 285,338 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Universal Insurance by 11.3% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,720,519 shares of the insurance provider’s stock valued at $36,234,000 after acquiring an additional 174,843 shares during the last quarter. Millennium Management LLC raised its stake in shares of Universal Insurance by 120.6% in the fourth quarter. Millennium Management LLC now owns 126,602 shares of the insurance provider’s stock valued at $2,666,000 after acquiring an additional 69,205 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock worth $7,698,000 after acquiring an additional 63,582 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Universal Insurance by 80.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock worth $2,946,000 after acquiring an additional 59,290 shares during the last quarter. Institutional investors and hedge funds own 66.61% of the company’s stock.

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.