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

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

Universal Insurance Stock Up 1.9 %

Shares of Universal Insurance stock traded up $0.37 during trading on Monday, hitting $19.87. 107,147 shares of the stock traded hands, compared to its average volume of 120,372. The stock has a market cap of $562.15 million, a P/E ratio of 8.08 and a beta of 0.93. The company has a fifty day moving average price of $20.93 and a two-hundred day moving average price of $20.58. Universal Insurance has a twelve month low of $15.78 and a twelve month high of $23.39. 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 (NYSE:UVE) last posted its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.30. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The firm had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. During the same period in the previous year, the company earned ($0.16) earnings per share. Equities research analysts predict that Universal Insurance will post 1.66 EPS for the current fiscal year.

Insider Transactions at Universal Insurance

In other Universal Insurance news, Director Jon Springer sold 25,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the completion of the sale, the director now directly owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This represents a 6.12 % 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 15,064 shares of Universal Insurance stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $22.46, for a total value of $338,337.44. Following the sale, the chairman now directly owns 1,047,198 shares in the company, valued at approximately $23,520,067.08. This trade represents a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,064 shares of company stock worth $2,283,787. 17.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Universal Insurance

A number of hedge funds have recently made changes to their positions in UVE. CWA Asset Management Group LLC increased its stake in Universal Insurance by 100.0% in the fourth quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after acquiring an additional 285,338 shares during the period. Bank of Montreal Can boosted its holdings in Universal Insurance by 283.0% during the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after purchasing an additional 276,700 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Universal Insurance by 64.6% in the 3rd quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock valued at $4,468,000 after purchasing an additional 79,138 shares during the period. Charles Schwab Investment Management Inc. raised 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 buying an additional 63,582 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of 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 buying an additional 59,290 shares during the period. 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.