Universal Insurance (NYSE:UVE) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a buy rating to a strong-buy rating in a report issued on Friday morning.

Universal Insurance Trading Down 4.0 %

Shares of Universal Insurance stock opened at $19.29 on Friday. The stock has a market capitalization of $549.38 million, a P/E ratio of 6.82 and a beta of 0.89. Universal Insurance has a 52-week low of $13.85 and a 52-week high of $23.27. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.54 and a current ratio of 0.54. The stock’s 50-day simple moving average is $20.64 and its 200 day simple moving average is $19.77.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.03. Universal Insurance had a net margin of 5.60% and a return on equity of 21.14%. The company had revenue of $380.21 million for the quarter, compared to analyst estimates of $340.09 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. As a group, research analysts anticipate that Universal Insurance will post 1.28 EPS for the current year.

Insider Transactions at Universal Insurance

In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the sale, the chairman now owns 1,082,262 shares of the company’s stock, valued at approximately $24,318,427.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $722,101.69. Following the sale, the director now owns 473,899 shares of the company’s stock, valued at approximately $9,729,146.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $22.47, for a total transaction of $449,400.00. Following the completion of the sale, the chairman now owns 1,082,262 shares in the company, valued at $24,318,427.14. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,173 shares of company stock valued at $1,571,502 over the last three months. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Universal Insurance

Institutional investors and hedge funds have recently made changes to their positions in the business. Donald Smith & CO. Inc. grew its position in Universal Insurance by 2.1% during the first quarter. Donald Smith & CO. Inc. now owns 1,737,233 shares of the insurance provider’s stock worth $35,301,000 after buying an additional 35,045 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Universal Insurance by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,544,506 shares of the insurance provider’s stock worth $31,384,000 after purchasing an additional 41,425 shares in the last quarter. American Century Companies Inc. increased its position in shares of Universal Insurance by 44.5% in the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock worth $8,814,000 after purchasing an additional 144,647 shares during the last quarter. Bank of Montreal Can raised its stake in Universal Insurance by 283.0% in the second quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after purchasing an additional 276,700 shares in the last quarter. Finally, LSV Asset Management lifted its position in Universal Insurance by 6.8% during the first quarter. LSV Asset Management now owns 313,902 shares of the insurance provider’s stock valued at $6,378,000 after purchasing an additional 19,900 shares during the last quarter. Hedge funds and other 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.