Universal Insurance (NYSE:UVE) Downgraded by StockNews.com to “Buy”

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

Universal Insurance Trading Up 0.5 %

NYSE:UVE opened at $21.97 on Wednesday. The firm has a market capitalization of $617.27 million, a P/E ratio of 8.93 and a beta of 0.84. Universal Insurance has a 52 week low of $16.50 and a 52 week high of $23.39. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $20.56 and a 200 day moving average of $20.82.

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

Insider Activity at Universal Insurance

In related news, Chairman Sean P. Downes sold 50,000 shares of Universal Insurance stock in a transaction on Monday, December 30th. The shares were sold at an average price of $20.51, for a total value of $1,025,500.00. Following the sale, the chairman now owns 985,320 shares in the company, valued at $20,208,913.20. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 90,000 shares of company stock worth $1,908,700 over the last quarter. 17.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Insurance

Several institutional investors and hedge funds have recently modified their holdings of UVE. Quarry LP increased its position in shares of Universal Insurance by 55.6% during the third quarter. Quarry LP now owns 2,171 shares of the insurance provider’s stock valued at $48,000 after buying an additional 776 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Universal Insurance during the 4th quarter valued at approximately $103,000. Quantbot Technologies LP boosted its position in Universal Insurance by 45,981.8% during the 4th quarter. Quantbot Technologies LP now owns 5,069 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 5,058 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Universal Insurance during the 4th quarter worth approximately $118,000. Finally, Aquatic Capital Management LLC bought a new position in shares of Universal Insurance in the 4th quarter worth approximately $121,000. 66.61% of the stock is owned by hedge funds and other 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.