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

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

Universal Insurance Price Performance

Universal Insurance stock opened at $21.44 on Tuesday. The company has a market capitalization of $602.38 million, a PE ratio of 8.72 and a beta of 0.84. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $20.35 and a two-hundred day moving average price of $20.80. Universal Insurance has a 12 month low of $16.50 and a 12 month high of $23.39.

Universal Insurance (NYSE:UVE) last posted its earnings results on Tuesday, February 25th. The insurance provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.09 by $0.16. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. The business had revenue of $384.81 million for the quarter, compared to the consensus estimate of $349.91 million. Analysts expect that Universal Insurance will post 1.66 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Sean P. Downes sold 50,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $20.51, for a total value of $1,025,500.00. Following the completion of the sale, the chairman now owns 985,320 shares of the company’s stock, valued at approximately $20,208,913.20. This represents a 4.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 90,000 shares of company stock valued at $1,908,700 in the last three months. Insiders own 17.50% of the company’s stock.

Institutional Trading of Universal Insurance

Institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Universal Insurance by 16.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,232 shares of the insurance provider’s stock worth $3,861,000 after purchasing an additional 24,919 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock valued at $7,698,000 after buying an additional 63,582 shares during the period. Algert Global LLC boosted its position in Universal Insurance by 46.8% during the third quarter. Algert Global LLC now owns 79,059 shares of the insurance provider’s stock valued at $1,752,000 after acquiring an additional 25,210 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in Universal Insurance during the 3rd quarter worth about $206,000. Finally, FMR LLC raised its position in shares of Universal Insurance by 135.9% in the 3rd quarter. FMR LLC now owns 32,114 shares of the insurance provider’s stock worth $712,000 after acquiring an additional 18,501 shares in the last quarter. 66.61% of the stock is currently owned by institutional investors.

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.