Universal Insurance (NYSE:UVE) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Universal Insurance (NYSE:UVE) from a strong-buy rating to a buy rating in a research report released on Saturday.

Universal Insurance Stock Performance

UVE opened at $23.29 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.22. The company has a market cap of $659.57 million, a price-to-earnings ratio of 10.17 and a beta of 0.87. The company’s 50 day moving average is $25.82 and its 200 day moving average is $23.57. Universal Insurance has a 12-month low of $16.50 and a 12-month high of $28.49.

Universal Insurance (NYSE:UVE) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The company had revenue of $596.72 million for the quarter, compared to the consensus estimate of $359.98 million. Universal Insurance had a net margin of 4.24% and a return on equity of 15.37%. On average, equities research analysts predict that Universal Insurance will post 1.66 EPS for the current year.

Universal Insurance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, August 1st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, August 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.7%. Universal Insurance’s dividend payout ratio (DPR) is presently 27.95%.

Insider Buying and Selling

In other Universal Insurance news, Chairman Sean P. Downes sold 25,000 shares of Universal Insurance stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $26.91, for a total transaction of $672,750.00. Following the transaction, the chairman owned 926,667 shares of the company’s stock, valued at $24,936,608.97. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jon Springer sold 30,000 shares of Universal Insurance stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $27.06, for a total transaction of $811,800.00. Following the transaction, the director directly owned 301,835 shares in the company, valued at $8,167,655.10. This represents a 9.04% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 75,000 shares of company stock worth $2,011,350. 17.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Universal Insurance

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in shares of Universal Insurance during the first quarter valued at approximately $59,000. State of Wyoming bought a new stake in Universal Insurance in the first quarter worth $64,000. KLP Kapitalforvaltning AS purchased a new position in Universal Insurance during the fourth quarter worth $103,000. Aquatic Capital Management LLC purchased a new position in Universal Insurance during the fourth quarter worth $121,000. Finally, Sunbelt Securities Inc. purchased a new position in Universal Insurance during the fourth quarter worth $118,000. 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.