Universal Insurance (NYSE:UVE) Stock Rating Lowered by StockNews.com

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

Universal Insurance Stock Up 0.1 %

UVE opened at $21.66 on Tuesday. Universal Insurance has a 12 month low of $16.50 and a 12 month high of $23.39. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market cap of $612.53 million, a P/E ratio of 8.80 and a beta of 0.91. The stock’s 50 day moving average price is $20.15 and its 200 day moving average price is $20.76.

Universal Insurance (NYSE:UVE) last posted its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 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 analysts’ expectations of $349.91 million. As a group, research analysts predict that Universal Insurance will post 1.66 earnings per share for the current year.

Insider Transactions at Universal Insurance

In other news, Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction dated 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 transaction, the chairman now directly owns 985,320 shares in the company, valued at approximately $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Springer sold 25,000 shares of Universal Insurance stock in a transaction dated 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 transaction, the director now owns 383,228 shares in the company, valued at $7,905,993.64. The trade was a 6.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock valued at $2,424,450 in the last three months. 17.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors have recently made changes to their positions in UVE. Covestor Ltd grew its position in Universal Insurance by 240.1% during the third quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after buying an additional 1,328 shares in the last quarter. Quarry LP grew its position in Universal Insurance by 55.6% during the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock worth $48,000 after buying an additional 776 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Universal Insurance during the fourth quarter worth about $103,000. Quantbot Technologies LP grew its position in Universal Insurance by 45,981.8% during the fourth quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock worth $107,000 after buying an additional 5,058 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Universal Insurance during the fourth quarter worth about $118,000. 66.61% of the stock is currently owned by institutional investors.

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.