Universal Insurance (NYSE:UVE) Lifted to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Universal Insurance Stock Performance

Shares of Universal Insurance stock opened at $19.24 on Friday. The company has a market cap of $554.11 million, a PE ratio of 7.55 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.26. Universal Insurance has a 52 week low of $13.85 and a 52 week high of $23.27. The business has a 50 day moving average price of $20.64 and a 200-day moving average price of $19.78.

Universal Insurance (NYSE:UVE) last issued its quarterly earnings data on Thursday, July 25th. The insurance provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.03. Universal Insurance had a return on equity of 21.14% and a net margin of 5.60%. The business had revenue of $380.21 million for the quarter, compared to analysts’ expectations of $340.09 million. During the same period last year, the business earned $0.87 EPS. Equities analysts anticipate that Universal Insurance will post 1.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $20.00, for a total transaction of $400,000.00. Following the transaction, the chairman now owns 1,122,262 shares of the company’s stock, valued at $22,445,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $20.00, for a total transaction of $400,000.00. Following the completion of the sale, the chairman now directly owns 1,122,262 shares of the company’s stock, valued at approximately $22,445,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jon Springer sold 35,173 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the transaction, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,173 shares of company stock valued at $1,571,502. Corporate insiders own 17.50% of the company’s stock.

Institutional Trading of Universal Insurance

A number of large investors have recently added to or reduced their stakes in UVE. CWM LLC grew its position in shares of Universal Insurance by 40.1% during the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock valued at $56,000 after acquiring an additional 723 shares during the period. Quarry LP grew its holdings in Universal Insurance by 424.4% during the second quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 1,129 shares during the period. SG Americas Securities LLC increased its position in Universal Insurance by 17.4% in the second quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock worth $232,000 after buying an additional 1,833 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Universal Insurance by 11.0% in the second quarter. Principal Financial Group Inc. now owns 24,963 shares of the insurance provider’s stock valued at $468,000 after buying an additional 2,479 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Universal Insurance by 1.8% during the 2nd quarter. Marshall Wace LLP now owns 235,801 shares of the insurance provider’s stock valued at $4,424,000 after buying an additional 4,140 shares during the last quarter. Hedge funds and other 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.