Universal Insurance (NYSE:UVE) Rating Lowered to Buy at StockNews.com

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

Separately, TheStreet upgraded Universal Insurance from a “c+” rating to a “b” rating in a report on Monday, February 26th.

Universal Insurance Trading Up 1.5 %

Shares of NYSE UVE traded up $0.30 during trading hours on Wednesday, hitting $19.98. The company’s stock had a trading volume of 161,192 shares, compared to its average volume of 194,613. Universal Insurance has a 12 month low of $11.15 and a 12 month high of $21.75. The stock has a market cap of $578.82 million, a price-to-earnings ratio of 9.08 and a beta of 0.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.53 and a current ratio of 0.53. The business has a 50-day simple moving average of $18.29 and a 200-day simple moving average of $16.37.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.20. The company had revenue of $375.46 million during the quarter, compared to analyst estimates of $328.12 million. Universal Insurance had a return on equity of 18.14% and a net margin of 4.80%. On average, analysts anticipate that Universal Insurance will post 2.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $19.53, for a total value of $390,600.00. Following the transaction, the chairman now directly owns 1,191,390 shares of the company’s stock, valued at approximately $23,267,846.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 17.70% of the company’s stock.

Institutional Trading of Universal Insurance

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AJOVista LLC bought a new stake in Universal Insurance during the 4th quarter valued at approximately $25,000. Quantbot Technologies LP bought a new stake in shares of Universal Insurance during the first quarter valued at approximately $58,000. Tower Research Capital LLC TRC lifted its holdings in shares of Universal Insurance by 208.6% in the third quarter. Tower Research Capital LLC TRC now owns 7,929 shares of the insurance provider’s stock worth $78,000 after buying an additional 5,360 shares in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Universal Insurance during the first quarter worth $102,000. Finally, Fortis Capital Advisors LLC purchased a new position in Universal Insurance during the first quarter valued at $102,000. 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.