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

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

Universal Insurance Price Performance

Universal Insurance stock opened at $21.44 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $602.38 million, a P/E ratio of 8.72 and a beta of 0.84. The business has a 50-day moving average of $20.35 and a 200-day moving average of $20.80. Universal Insurance has a 1 year low of $16.50 and a 1 year high of $23.39.

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

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $22.08, for a total transaction of $441,600.00. Following the completion of the transaction, the chairman now directly owns 990,200 shares of the company’s stock, valued at approximately $21,863,616. This represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 90,000 shares of company stock valued at $1,908,700. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Universal Insurance by 7.7% during the third quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock worth $15,289,000 after buying an additional 49,123 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of 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 purchasing an additional 285,338 shares during the last quarter. Barclays PLC increased its stake in shares of Universal Insurance by 69.5% during the third quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock worth $1,528,000 after purchasing an additional 28,278 shares during the period. HighTower Advisors LLC acquired a new stake in Universal Insurance during the 3rd quarter worth approximately $636,000. Finally, Jane Street Group LLC boosted its stake in Universal Insurance by 2,142.1% in the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after purchasing an additional 57,108 shares during the period. Institutional investors 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.