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

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

Universal Insurance Stock Down 0.4 %

NYSE UVE opened at $21.58 on Tuesday. The stock’s 50 day moving average is $20.16 and its 200 day moving average is $20.77. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. Universal Insurance has a 12 month low of $16.50 and a 12 month high of $23.39. The stock has a market cap of $610.41 million, a PE ratio of 8.77 and a beta of 0.91.

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

Universal Insurance Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, March 7th will be paid a $0.16 dividend. This is an increase from Universal Insurance’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 2.97%. Universal Insurance’s payout ratio is presently 32.16%.

Insiders Place Their Bets

In other news, Chairman Sean P. Downes sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $20.51, for a total transaction of $1,025,500.00. Following the transaction, the chairman now owns 985,320 shares of the company’s stock, valued at approximately $20,208,913.20. The trade was a 4.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jon Springer sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $20.63, for a total value of $515,750.00. Following the transaction, the director now directly owns 383,228 shares in the company, valued at approximately $7,905,993.64. This represents a 6.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,000 shares of company stock valued at $2,424,450 in the last quarter. 17.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Universal Insurance

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Universal Insurance by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 689,767 shares of the insurance provider’s stock valued at $15,289,000 after purchasing an additional 49,123 shares during the last quarter. CWA Asset Management Group LLC increased its position in shares of Universal Insurance by 100.0% during the 4th quarter. CWA Asset Management Group LLC now owns 570,615 shares of the insurance provider’s stock valued at $12,017,000 after purchasing an additional 285,338 shares during the last quarter. Barclays PLC grew its position in Universal Insurance by 69.5% in the 3rd quarter. Barclays PLC now owns 68,969 shares of the insurance provider’s stock valued at $1,528,000 after acquiring an additional 28,278 shares during the last quarter. HighTower Advisors LLC bought a new position in Universal Insurance in the 3rd quarter valued at $636,000. Finally, Jane Street Group LLC grew its position in Universal Insurance by 2,142.1% in the 3rd quarter. Jane Street Group LLC now owns 59,774 shares of the insurance provider’s stock valued at $1,325,000 after acquiring an additional 57,108 shares during the last quarter. Institutional investors own 66.61% of the company’s stock.

Universal Insurance Company Profile

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.