Universal Insurance (NYSE:UVE) Downgraded to Buy at StockNews.com

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

Separately, TheStreet raised shares of Universal Insurance from a c+ rating to a b rating in a research note on Monday, February 26th.

Universal Insurance Price Performance

NYSE UVE opened at $19.98 on Wednesday. The business has a 50 day simple moving average of $18.29 and a 200 day simple moving average of $16.37. Universal Insurance has a 52-week low of $11.15 and a 52-week high of $21.75. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $578.82 million, a price-to-earnings ratio of 9.08 and a beta of 0.83.

Universal Insurance (NYSE:UVE) last posted its earnings results on Thursday, February 22nd. The insurance provider reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. The business had revenue of $375.46 million during the quarter, compared to analysts’ expectations of $328.12 million. Analysts anticipate that Universal Insurance will post 2.3 earnings per share for the current fiscal year.

Universal Insurance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 3.20%. Universal Insurance’s dividend payout ratio is currently 29.09%.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the completion of the sale, the chairman now owns 1,191,390 shares of the company’s stock, valued at approximately $23,267,846.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Several large investors have recently made changes to their positions in UVE. AJOVista LLC acquired a new stake in shares of Universal Insurance in the 4th quarter valued at approximately $25,000. Quantbot Technologies LP acquired a new stake in shares of Universal Insurance in the 1st quarter valued at approximately $58,000. Tower Research Capital LLC TRC boosted its holdings in shares of Universal Insurance by 208.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,929 shares of the insurance provider’s stock valued at $78,000 after buying an additional 5,360 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Universal Insurance during the 1st quarter valued at $102,000. Finally, Fortis Capital Advisors LLC acquired a new stake in Universal Insurance during the 1st quarter valued at $102,000. Institutional investors and hedge funds own 66.61% of the company’s stock.

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.