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.

Universal Insurance Trading Up 0.1 %

Universal Insurance stock opened at $22.41 on Friday. 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 stock has a market cap of $633.98 million, a PE ratio of 9.11 and a beta of 0.90. The stock has a 50-day moving average price of $20.64 and a 200 day moving average price of $19.91. Universal Insurance has a 52 week low of $15.63 and a 52 week high of $23.27.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results 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 company had revenue of $387.55 million during the quarter, compared to analysts’ expectations of $341.98 million. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. During the same quarter in the previous year, the business earned ($0.16) EPS. Equities research analysts predict that Universal Insurance will post 1.66 earnings per share for the current fiscal 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 paid a $0.13 dividend. This represents a $0.52 annualized dividend 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 currently 26.02%.

Insider Activity

In other news, Director Jon Springer sold 35,173 shares of Universal Insurance stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the transaction, the director now directly owns 473,899 shares of the company’s stock, valued at $9,729,146.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Universal Insurance news, Chairman Sean P. Downes sold 20,000 shares of the company’s 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 transaction, the chairman now directly owns 1,062,262 shares of the company’s stock, valued at $21,468,315.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jon Springer sold 35,173 shares of the company’s 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold 75,173 shares of company stock valued at $1,575,702 in the last three months. Corporate insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Universal Insurance

A number of institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets raised its position in shares of Universal Insurance by 80.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 132,939 shares of the insurance provider’s stock valued at $2,946,000 after purchasing an additional 59,290 shares in the last quarter. FMR LLC increased its holdings in shares of Universal Insurance by 135.9% in the 3rd quarter. FMR LLC now owns 32,114 shares of the insurance provider’s stock valued at $712,000 after acquiring an additional 18,501 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Universal Insurance in the 3rd quarter valued at approximately $206,000. Algert Global LLC increased its holdings in shares of Universal Insurance by 46.8% in the 3rd quarter. Algert Global LLC now owns 79,059 shares of the insurance provider’s stock valued at $1,752,000 after acquiring an additional 25,210 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Universal Insurance by 22.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after acquiring an additional 63,582 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.