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

Universal Insurance (NYSE:UVE) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Sunday.

A number of other brokerages have also weighed in on UVE. Weiss Ratings restated a “buy (b)” rating on shares of Universal Insurance in a research note on Wednesday, October 8th. Zacks Research raised shares of Universal Insurance from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, Universal Insurance currently has an average rating of “Strong Buy”.

Universal Insurance Trading Down 0.3%

NYSE UVE opened at $32.92 on Friday. Universal Insurance has a 52 week low of $18.72 and a 52 week high of $35.84. The company has a 50 day moving average price of $31.81 and a 200 day moving average price of $27.64. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.20. The firm has a market cap of $923.52 million, a PE ratio of 7.77 and a beta of 0.74.

Universal Insurance (NYSE:UVE) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.26. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. The business had revenue of $400.03 million for the quarter, compared to analyst estimates of $366.36 million. As a group, sell-side analysts forecast that Universal Insurance will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling at Universal Insurance

In related news, Director Jon Springer sold 24,308 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $34.51, for a total transaction of $838,869.08. Following the sale, the director directly owned 247,320 shares of the company’s stock, valued at $8,535,013.20. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Sean P. Downes sold 20,000 shares of Universal Insurance stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $33.46, for a total value of $669,200.00. Following the transaction, the chairman owned 1,263,512 shares of the company’s stock, valued at approximately $42,277,111.52. This represents a 1.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 99,743 shares of company stock worth $3,249,082. 17.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Universal Insurance

Several hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in shares of Universal Insurance in the 3rd quarter valued at $32,000. Quarry LP acquired a new position in shares of Universal Insurance in the first quarter worth about $59,000. Ameritas Investment Partners Inc. boosted its stake in shares of Universal Insurance by 28.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,597 shares of the insurance provider’s stock worth $72,000 after acquiring an additional 577 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Universal Insurance by 390.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,656 shares of the insurance provider’s stock valued at $74,000 after acquiring an additional 2,114 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Universal Insurance during the 1st quarter valued at about $64,000. 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.