Universal Insurance (NYSE:UVE) Upgraded at StockNews.com

StockNews.com upgraded shares of Universal Insurance (NYSE:UVE) from a hold rating to a buy rating in a research report released on Sunday.

Universal Insurance Price Performance

Shares of UVE opened at $22.41 on Friday. The company has a market cap of $633.98 million, a P/E ratio of 9.11 and a beta of 0.90. The stock has a fifty day moving average price of $20.64 and a 200 day moving average price of $19.91. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51. Universal Insurance has a 12 month low of $15.63 and a 12 month high of $23.27.

Universal Insurance (NYSE:UVE) last announced its quarterly earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.30. Universal Insurance had a return on equity of 15.43% and a net margin of 4.82%. The company had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. On average, research analysts forecast that Universal Insurance will post 1.66 earnings per share for the current year.

Universal Insurance Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.52 dividend on an annualized basis and a yield of 2.32%. Universal Insurance’s dividend payout ratio (DPR) is presently 26.02%.

Insiders Place Their Bets

In other news, Director Jon Springer sold 35,173 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the sale, the director now owns 473,899 shares in the company, valued at $9,729,146.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Sean P. Downes sold 20,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $20.21, for a total value of $404,200.00. Following the completion of the transaction, the chairman now owns 1,062,262 shares in the company, valued at $21,468,315.02. This trade represents a 0.00 % 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 35,173 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $20.53, for a total value of $722,101.69. Following the completion of the transaction, the director now owns 473,899 shares of the company’s stock, valued at $9,729,146.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,173 shares of company stock worth $1,575,702. 17.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Universal Insurance

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP lifted its stake in Universal Insurance by 424.4% in the 2nd quarter. Quarry LP now owns 1,395 shares of the insurance provider’s stock worth $26,000 after acquiring an additional 1,129 shares in the last quarter. Covestor Ltd lifted its stake in Universal Insurance by 240.1% in the 3rd quarter. Covestor Ltd now owns 1,881 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 1,328 shares in the last quarter. CWM LLC lifted its stake in Universal Insurance by 40.1% in the 3rd quarter. CWM LLC now owns 2,524 shares of the insurance provider’s stock worth $56,000 after acquiring an additional 723 shares in the last quarter. Occidental Asset Management LLC purchased a new stake in Universal Insurance in the 2nd quarter worth about $196,000. Finally, Aigen Investment Management LP purchased a new stake in Universal Insurance in the 3rd quarter worth about $202,000. Institutional investors and hedge funds 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.