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

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a hold rating to a buy rating in a research note published on Sunday morning.

Universal Insurance Stock Down 0.7 %

UVE stock opened at $22.39 on Friday. Universal Insurance has a 1-year low of $15.63 and a 1-year high of $23.27. The business’s 50 day simple moving average is $20.62 and its 200 day simple moving average is $19.90. 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 $633.32 million, a PE ratio of 9.10 and a beta of 0.90.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, October 24th. The insurance provider reported ($0.73) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.30. The firm had revenue of $387.55 million for the quarter, compared to the consensus estimate of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period in the previous year, the company earned ($0.16) earnings per share. As a group, research analysts anticipate that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, December 6th. Universal Insurance’s dividend payout ratio is presently 26.02%.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total value of $404,200.00. Following the completion of the sale, the chairman now directly owns 1,062,262 shares in the company, valued at $21,468,315.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the sale, the director now directly owns 473,899 shares in the company, valued at approximately $9,729,146.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total value of $404,200.00. Following the sale, the chairman now directly owns 1,062,262 shares in the company, valued at $21,468,315.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,173 shares of company stock worth $1,575,702. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UVE. CWM LLC increased its position in shares of Universal Insurance by 40.1% in the third quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after purchasing an additional 723 shares during the period. Quarry LP raised its position in shares of Universal Insurance by 424.4% in the 2nd 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. Covestor Ltd raised its position in shares of Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock valued at $42,000 after buying an additional 1,328 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Universal Insurance by 17.4% during the 2nd quarter. SG Americas Securities LLC now owns 12,374 shares of the insurance provider’s stock worth $232,000 after acquiring an additional 1,833 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Universal Insurance by 11.0% during the 2nd quarter. Principal Financial Group Inc. now owns 24,963 shares of the insurance provider’s stock worth $468,000 after acquiring an additional 2,479 shares in 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.