StockNews.com Downgrades Universal Insurance (NYSE:UVE) to Buy

StockNews.com lowered shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a report published on Wednesday.

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

Universal Insurance Stock Up 1.7 %

Shares of NYSE:UVE opened at $20.32 on Wednesday. The company has a 50 day moving average price of $18.44 and a two-hundred day moving average price of $16.45. 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 company has a market capitalization of $588.67 million, a PE ratio of 9.24 and a beta of 0.83. Universal Insurance has a 52 week low of $11.15 and a 52 week high of $21.75.

Universal Insurance (NYSE:UVE) last released its quarterly earnings data on Thursday, February 22nd. The insurance provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.20. The business had revenue of $375.46 million during the quarter, compared to analysts’ expectations of $328.12 million. Universal Insurance had a net margin of 4.80% and a return on equity of 18.14%. Analysts forecast that Universal Insurance will post 2.3 earnings per share for the current year.

Universal Insurance Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Thursday, March 7th. Universal Insurance’s payout ratio is presently 29.09%.

Insider Buying and Selling at Universal Insurance

In other news, Chairman Sean P. Downes sold 20,000 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $19.53, for a total transaction of $390,600.00. Following the completion of the transaction, the chairman now directly owns 1,191,390 shares of the company’s stock, valued at $23,267,846.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.70% of the company’s stock.

Institutional Trading of Universal Insurance

A number of institutional investors have recently made changes to their positions in UVE. Legal & General Group Plc increased its stake in Universal Insurance by 1.3% in the 4th quarter. Legal & General Group Plc now owns 66,362 shares of the insurance provider’s stock valued at $703,000 after buying an additional 877 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Universal Insurance by 3.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 25,286 shares of the insurance provider’s stock valued at $350,000 after acquiring an additional 916 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Universal Insurance by 2.4% in the first quarter. Panagora Asset Management Inc. now owns 47,479 shares of the insurance provider’s stock valued at $865,000 after acquiring an additional 1,113 shares during the last quarter. HighTower Advisors LLC raised its holdings in Universal Insurance by 4.1% during the first quarter. HighTower Advisors LLC now owns 29,313 shares of the insurance provider’s stock worth $532,000 after acquiring an additional 1,158 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Universal Insurance by 4.4% during the third quarter. Thrivent Financial for Lutherans now owns 28,576 shares of the insurance provider’s stock valued at $281,000 after purchasing an additional 1,213 shares during the last quarter. 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.