Universal Insurance (NYSE:UVE) Rating Lowered to “Buy” at StockNews.com

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

Universal Insurance Price Performance

Shares of NYSE:UVE opened at $19.96 on Tuesday. The firm’s 50 day moving average is $20.50 and its two-hundred day moving average is $20.59. The firm has a market capitalization of $564.59 million, a P/E ratio of 8.11 and a beta of 0.91. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance has a 52 week low of $15.78 and a 52 week high of $23.39.

Insider Buying and Selling at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 15,064 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $22.46, for a total transaction 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. The trade was a 1.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jon Springer sold 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 383,228 shares of the company’s stock, valued at $7,905,993.64. This trade represents a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,064 shares of company stock valued at $1,879,587 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

A number of institutional investors and hedge funds have recently bought and sold shares of UVE. Squarepoint Ops LLC bought a new stake in shares of Universal Insurance in the 2nd quarter worth approximately $498,000. Quarry LP increased its holdings in shares of Universal Insurance by 424.4% in the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after buying an additional 1,129 shares in the last quarter. Truist Financial Corp acquired a new stake in shares of Universal Insurance during the 2nd quarter valued at $336,000. Sanctuary Advisors LLC bought a new stake in shares of Universal Insurance during the 2nd quarter worth $567,000. Finally, SG Americas Securities LLC grew its holdings in shares of Universal Insurance by 57.3% in the 3rd quarter. SG Americas Securities LLC now owns 19,464 shares of the insurance provider’s stock worth $431,000 after acquiring an additional 7,090 shares during the last quarter. 66.61% of the stock is 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.